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OPEC
Proposed COP28 climate deal hints at looming end to fossil fuel era

Proposed COP28 climate deal hints at looming end to fossil fuel era

The COP28 Presidency released a proposed text of a final climate deal on Wednesday that would, for the first time, push nations to transition away from fossil fuels to avert the worst effects of climate change.
OPEC+ announces surprise oil output cuts

OPEC+ announces surprise oil output cuts

OPEC+ keeps steady policy amid weakening economy, Russian oil cap

OPEC+ keeps steady policy amid weakening economy, Russian oil cap

Biden vows consequences for Saudi Arabia after OPEC+ decision

Biden vows consequences for Saudi Arabia after OPEC+ decision

President Joe Biden pledged on Tuesday "there will be consequences" for U.S. relations with Saudi Arabia after OPEC+ announced last week that it would cut its oil production target over U.S. objections.
October 12, 2022 | 01:42 am PT
Oil jumps more than 3% as OPEC+ mulls cuts of up to 1 million barrels per day

Oil jumps more than 3% as OPEC+ mulls cuts of up to 1 million barrels per day

Oil prices jumped more than 3% in early Asian trade on Monday as OPEC+ considers cutting output of up to 1 million barrels per day at a meeting this week to support the market.
October 2, 2022 | 06:12 pm PT
Oil falls as demand concerns weigh against tight supply

Oil falls as demand concerns weigh against tight supply

Oil prices dipped at the start of Asian trade on Friday as worries about an economic downturn that could dampen demand for crude vied with concerns over new sanctions from the European Union against Russia, including an embargo on crude oil.
May 5, 2022 | 06:40 pm PT
Energy costs soar in 2021, fuelled by political unrest

Energy costs soar in 2021, fuelled by political unrest

Energy prices soared in 2021 -- with gas, oil, coal, electricity and carbon all shooting higher in large part owing to a resurgence of geopolitical tensions between producers and consumers.
December 29, 2021 | 11:04 pm PT
Venezuela opposition takes steps to seize oil revenue as Maduro issues threat

Venezuela opposition takes steps to seize oil revenue as Maduro issues threat

Venezuela’s opposition-controlled congress named new temporary boards of directors to state-oil firm PDVSA on Wednesday.
February 13, 2019 | 05:18 pm PT
Oil rises to mid-2015 high in strongest year opening since 2014

Oil rises to mid-2015 high in strongest year opening since 2014

It was the first time since January 2014 that both crude oil benchmarks opened the year above $60 per barrel.
January 1, 2018 | 07:35 pm PT
OPEC, non-OPEC hold informal talks to nail new oil cuts

OPEC, non-OPEC hold informal talks to nail new oil cuts

Deeper production curbs were still seen as unlikely.
May 24, 2017 | 01:17 am PT
Oil soars 6 pct as OPEC reaches deal to limit output in November

Oil soars 6 pct as OPEC reaches deal to limit output in November

Oil rallies as OPEC agrees to first output cut in 8 years.
September 28, 2016 | 08:44 pm PT
Saudi, Iran set to clash over OPEC oil output targets

Saudi, Iran set to clash over OPEC oil output targets

OPEC is set for another showdown between rivals Saudi Arabia and Iran when it meets on Thursday, with Riyadh trying to revive coordinated action and set a formal oil output target but Tehran rejecting the idea.
June 2, 2016 | 01:23 am PT
Shift in Saudi oil thinking deepens OPEC split

Shift in Saudi oil thinking deepens OPEC split

 As OPEC officials gathered this week to formulate a long-term strategy, few in the room expected the discussions would end without a clash. But even the most jaded delegates got more than they had bargained with.
May 5, 2016 | 10:29 pm PT
Oil prices slide after freeze deal failure

Oil prices slide after freeze deal failure

Oil prices slid on Monday after a meeting between major producing nations on a proposed output freeze fell apart, leaving the world grappling with an excess of unwanted crude.
April 18, 2016 | 03:11 am PT
Oil hits 2016 high above $43 on producer meeting hopes

Oil hits 2016 high above $43 on producer meeting hopes

Oil rose above $43 a barrel to its highest level so far in 2016 on Tuesday, supported by hopes that a meeting of oil producers will agree steps to tackle a supply glut, a weak U.S. dollar and further signs of strong demand in China.
April 12, 2016 | 04:57 am PT
Venezuela decrees Fridays a holiday to ease energy crisis

Venezuela decrees Fridays a holiday to ease energy crisis

Venezuela's President Nicolas Maduro has decreed that all Fridays for the next two months will be holidays, in a bid to save energy in the blackout-hit OPEC country.
April 6, 2016 | 11:47 pm PT
 
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