UAE energy minister hints at support for oil production cuts

Business 05/19/19, 19:34

The United Arab Emirates' energy minister said Sunday he does not think oil producing nations should relax the production cuts currently in place. Suhail al-Mazrouei spoke to reporters on the sidelines of a meeting in Saudi Arabia of the world's major oil producers. His comments suggested there's support within the OPEC ...

US oil prices predicted to climb in 2019 on lower supply

Business 12/13/18, 13:06

After a turbulent two months during which oil prices plummeted from a four-year high to a one-year low, investors may wonder what comes next for U.S. crude.Analysts at Swiss bank UBS are among those who predict prices will recover in 2019, as oil cartel OPEC, the U.S. and Russia curb ...

Technology companies lead slide in US stocks; Oil rising

Business 12/07/18, 10:30

U.S. stocks fell in morning trading Friday, adding to modest losses from a day earlier. Losses in technology and health care stocks outweighed gains elsewhere in the market. Energy companies led the gainers as crude oil prices rose on news that OPEC members will elect to cut production. The government ...

Update: OPEC agrees to cut in oil production

Business 12/07/18, 10:13

The Latest on the OPEC oil meeting (all times local):4 p.m.Iran's Minister of Petroleum Bijan Namdar Zangeneh speaks prior to the start of a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, Thursday, Dec. (AP Photo/Ronald Zak)Iraq's representative in OPEC says the ...

OPEC ministers, Russia, meeting for oil production cut talks

Business 12/07/18, 05:11

OPEC countries are mulling a possible cut to oil production in an attempt to stabilize prices as they meet for a second straight day.Iran's Minister of Petroleum Bijan Namdar Zangeneh speaks prior to the start of a meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters ...

Update: Saudis seek 1 million barrels cut to OPEC output

Europe 12/06/18, 05:53

The Latest on OPEC's meeting on cutting oil production (all times local):11:50 a.m.Saudi Arabia's energy minister says his country sees an oil production cut of 1 million barrels per day as "adequate" to respond to recent declines in oil prices.Heading in to a meeting of OPEC countries in Vienna on ...

OPEC members expected to agree cut in crude production

Business 12/06/18, 03:03

OPEC members are meeting to agree on their response to recent declines in oil prices, with analysts predicting a cut in production of at least 1 million barrels per day.Crude prices began falling in October and continued to plunge last month because of oversupply and fears weaker global economic growth ...

Oil prices perk up on trade truce, possible OPEC decision

Business 12/04/18, 03:16

A rally in oil prices after a two-month slide indicates traders are betting that OPEC and its allies including Russia will agree to produce less crude.Representatives of oil-producing nations will hold a highly anticipated meeting Thursday in Vienna, with analysts predicting that they will agree on a cut of at ...

Qatar will pull out of OPEC amid tension with Saudi Arabia

World 12/03/18, 02:50

The tiny, energy-rich Arab nation of Qatar announced on Monday it would withdraw from OPEC, mixing its aspirations to increase production outside of the cartel's constraints with the politics of slighting the Saudi-dominated group amid the kingdom's boycott of Doha.The surprise announcement from Qatar's minister of state for energy affairs, ...

OPEC, allies agree not to further increase oil production

World 09/23/18, 14:12

A meeting of OPEC and its allies ended without any decision to further increase oil output despite President Donald Trump's call for lower prices.Members of the Organization of the Petroleum Exporting Countries met on Sunday in Algiers with non-members including Russia.Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources of ...

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