Result Page 2 for OPEC news & latest pictures from ibtimes.com

With a futures contract expiring traders didn't want to take delivery of oil they would have to pay dearly to store and the price went into negative territory

Saudi Arabia, Russia Are In Charge Of Oil Price Again—Should Biden Administration Take The Blame?

Saudi Arabia's and Russia's power to set oil prices may have surprised some, as the U.S, not Saudi Arabia, is the world's largest oil producer these days.

Oil Steady As Markets Weigh OPEC+ Surprise Cuts Amid Demand Woes

Oil pump jacks at Vaca Muerta in Argentina

A slump in U.S. manufacturing activity in March to its lowest level in nearly three years, and weak manufacturing activity in China last month have raised concerns about oil demand.

Why US Gas Prices Are Going Up Again—And Will Likely Keep Rising

U.S. oil prices are surging again just as OPEC+ said it would cut supplies. More price increases could follow.

This handout picture taken and released by press-service of General Staff of the Armed Forces of Ukraine shows tanks of the Ukrainian army on maneuvers

Could Oil Reach $150 A Barrel? Ministers, Analysts Warn It Remains A Grim Possibility

Oil prices are rising closer to $100 a barrel but there are warning signs that it will climb even higher if Russia invades Ukraine at a time when producers are struggling to keep pace with excess demand.

More news

OPEC is divided between keeping in place current production levels of releasing an extra 500,000 barrels per day onto the market next month

OPEC+ To Continue Talks For Deal On February Production

OPEC+ to continue talks for deal on February production

AFP News Jan 05, 2021

The OPEC+ ministerial meeting comes after the Covid-19 pandemic tanked the market for crude in 2020

OPEC+ Ministers Adjourn Without Deal On February Production Levels

OPEC+ ministers adjourn without deal on February production levels

IBT Staff Reporter Jan 04, 2021

OPEC+ Meeting To Set February Production Levels

OPEC+ meeting to set February production levels

AFP News Jan 03, 2021

The OPEC+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between Saudi Arabia and Russia

New Year OPEC+ Meeting To Decide Production Levels

New Year OPEC+ meeting to decide production levels

IBT Staff Reporter Jan 02, 2021

OPEC's ability to steer oil prices has been put in question to an extent never seen before

OPEC Sees Latest COVID-19 Surge Hitting Oil Demand

The group just further lowered its global demand forecast for 2021.

Howard Smith Dec 15, 2020

The first wave of the coronavirus pandemic sent oil demand -- and prices -- plummeting in the spring

OPEC And Allies Strike Deal For Lower Production Hike From January

OPEC and allies strike deal for lower production hike from January

IBT Staff Reporter Dec 03, 2020

OPEC cartel members are debating whether or not to go ahead with a planned increase in output

OPEC Delays Talks With Allies Until Thursday

OPEC delays talks with allies until Thursday

AFP News Dec 01, 2020

Oil prices may have returned to pre-pandemic levels but analysts worry that the global economy is not yet ready for OPEC and its allies to increase output as they had planned to in January

OPEC+ Meeting Tuesday Will Seek To Agree On Extended Production Cuts

OPEC+ meeting Tuesday will seek to agree on extended production cuts

IBT Staff Reporter Nov 30, 2020

OPEC Sees Oil Demand Dropping Further

The latest revision to demand estimates has again been influenced by the increasing trajectory of coronavirus cases.

Howard Smith Nov 12, 2020

OPEC expects the number of cars on the roads in India to jump by more than five times by 2045 and, along with a similar increase in China, be one of the major drivers of rising oil demand

OPEC Doesn't See Peak Oil Demand -- Yet

OPEC doesn't see peak oil demand -- yet

AFP News Oct 08, 2020

Trading in most of Japan's stock markets was halted owing to a glitch, limiting business in the region as several other markets are closed

Tech Shares Lead Wall Street Up Ahead Of Jobs Data, Oil Prices Fall

Tech shares lead Wall Street up ahead of jobs data, oil prices fall

AFP News Oct 01, 2020

Against the expectations of most traders, crude oil of the kind stored at this facility in Cushing, Oklahoma, suddenly became nearly impossible to sell

Coronavirus Concerns Send Crude Oil Crashing Again

COVID-19 has killed at least one million people globally, and an increase in cases could send oil demand falling again.

Jason Hall Sep 30, 2020

OPEC Turns 60 At 'Critical Moment' For Virus-hit Oil

OPEC turns 60 at 'critical moment' for virus-hit oil

IBT Staff Reporter Sep 26, 2020

Oil firms are reckoning with the drop in demand and crude prices as lockdowns to contain the coronavirus have hammered economic activity

Global Oil Demand Will Drop Even More Than Previously Expected, IEA Predicts

A renewed wave of COVID-19 is expected to further pressure demand

Palash Ghosh Sep 15, 2020

Nancy Pelosi's suggestion that Democrats could lower their stimulus proposal provided some hope US lawmakers can thrash out a deal

Apple Hits $2 Tn Even As US Stocks Retreat From Records

Apple hits $2 tn even as US stocks retreat from records

IBT Staff Reporter Aug 19, 2020

IEA Warns Global Oil Demand Will Contract More Than Expected This Year Due To Ongoing COVID Impact

IEA partly cited a weakening recovery in transport-aviation sector for its projection

Palash Ghosh Aug 13, 2020

South Korea's economy has been hammered by the coronavirus pandemic

S. Korea Reports Worst Economic Performance In More Than 20 Years

S. Korea reports worst economic performance in more than 20 years

AFP News Jul 23, 2020

China said it will retaliate after Donald Trump signed off on a bill authorising sanctions on banks over China's clampdown in Hong Kong

Stock Markets Get Boost From Vaccine Hopes

Stock markets get boost from vaccine hopes

AFP News Jul 15, 2020

COVID-19 Is Killing Workers At Pemex, Mexico’s National Oil Company

At least 202 Pemex workers have been killed by the virus so far.

Palash Ghosh Jul 15, 2020

Monday’s Stock Market Open: US Equities Rise Despite Record Spike In Covid-19 Infections In Florida

US stocks rose on Monday as the tech sector celebrated a huge merger among chipmakers

Palash Ghosh Jul 13, 2020

An unprecedented crash in oil prices is adding pressure to already stressed US producers, threatening key shale regions and putting vulnerable companies at risk of going under

Covid-19 Economy: U.S. Shale Oil Companies Facing Massive Losses, Bankruptcies And Consolidation

The U.S. shale oil industry allowed the country to become energy independent

Palash Ghosh Jun 22, 2020

Monday’s Stock Market Open: US Equities Rise, Adding To Friday’s Rally On Optimism Over Economy Reopening

U.S. stocks jumped on Monday as OPEC agreed to extend historic output cuts

Palash Ghosh Jun 08, 2020

IBT Spotlight

We Help Businesses Find B2B Service Providers They Can Trust.

Get Listed

OPEC