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OPEC+ faces calls to cool oil market frenzy with extra barrels
From trading houses in Geneva to Wall Street banks, much of the oil world agrees that global markets could use some more barrels. The big question is whether OPEC+ will provide enough of them.
Oil drops as investors gauge big chill impact on US refineries, OPEC+ output rise
Oil prices slid more than 1% on Friday, adding to overnight declines, on worries that refineries will take time to resume operations after the big freeze in the US South, creating a gap in demand, while OPEC+ supplies were expected to rise.
Oil extends losses after OPEC+ talks suspended without decision
Oil extended losses in Asia after dropping the most in almost two weeks as OPEC+ talks were unexpectedly suspended due to a disagreement over whether to raise output in February.
New Year OPEC+ meeting to decide production levels
Members of the OPEC group of oil producers and their partners will meet via videoconference on Monday to decide on production levels for February, hoping to turn the corner on a difficult year.
Russia’s Novak backs further OPEC+ oil-output hike in February
Russia plans to support a further gradual increase in OPEC+ production at the next meeting in January, because crude prices are within an optimal range.
OPEC+ decision was wise: Zanganeh
Iranian Minister of Oil Bijan Namdar Zanganeh said that the crude oil output cuts will decrease from previously-agreed amount of 7.7 million barrels per day (mbd) to 7.2 mbd in January 2021, adding it was a wise decision.
Oil prices jump after OPEC+ inks supply compromise
Oil prices jumped around 2% on Friday, heading for a fifth week of gains, as major producers agreed on a compromise to continue some cuts to production to cope with coronavirus-hit demand even though these fell short of expectations.
Oil prices extend gains on COVID vaccine hopes, OPEC+
Oil prices extended gains on Monday as traders eyed a recovery in crude demand thanks to successful coronavirus vaccine trials, although prices were contained by renewed lockdowns in several countries.
Oil climbs higher on China, Japan rebound, hopes of OPEC+ supply curb
Oil prices climbed on Monday, recouping some losses from the previous session as hopes that OPEC+ will hold current output curbs offset concerns about weaker fuel demand due to rising COVID-19 cases and higher production from Libya.
OPEC+ set to ease record oil cuts from August
OPEC and allies such as Russia will ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic, Saudi Energy Minister Prince Abdulaziz bin Salman said on Wednesday.
Iran fully complying with OPEC+ quotas: Ex-governor
A former Iranian OPEC governor rejected claims by authorities in crude-producing countries that Tehran’s output of oil has exceeded a limit set by the Organization of Petroleum Exporting Countries and allies, a grouping known as OPEC+.
OPEC+ to meet on extending cuts, pushing for compliance
OPEC and its allies, led by Russia, will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.
Iran: OPEC+ due output cuts unprecedented
Iran’s Oil Minister Bijan Namdar Zanganeh said the planned new crude supply cuts by the OPEC-plus to control prices in the markets are unprecedented in the history of oil production.
Novak, Zanganeh discuss OPEC+ cooperation
Russian Energy Minister Alexander Novak on Monday discussed OPEC+ cooperation by phone with Iranian Oil Minister Bijan Namdar Zanganeh, said the Russian Energy Ministry in a statement.

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