OPEC

As OPEC prepares to meet this week, here's a Harper's Index of some key numbers that will help you through the news coming out of Vienna. The group faces projections of a supply/demand imbalance in 2020. Some of these numbers will make that clear; other numbers provide a historical context of what...

Saudi Arabia wants fellow OPEC members to extend an agreement to lower oil production when the group meets on Dec. 5 and 6. What Saudi Arabia Wants OPEC and other oil rich countries agreed to lower their combined oil output by 1.2 million barrels a day through the end of March 2020. But the Saudi...

The impact of IMO 2020 on oil markets is going to be less than projected, at least according to a newly published forecast by OPEC. The cartel, in its voluminous World Oil Outlook report, said it has seen several shifts in oil markets that have led it to believe the transition to lower-sulfur...

After sputtering all year, energy stocks finally got a boost last month. It wasn’t necessarily how company executives would have envisioned, however, because it took a devastating military strike against Saudi oil facilities to help the struggling sector post some decent gains on Wall Street...

Working with members of OPEC and the potential for offsetting oil shortages using emergency crude reserves should be enough to keep oil prices from spiraling out of control in the U.S., according to the country's chief business lobbyist. Speaking at a press conference on Sept. 16, U.S. Chamber of...

Saudi Arabia suffered a drone attack over the weekend that has global implications for the oil and equity markets, as tensions in the region could escalate to the point of a military response.  Trump: 'Locked And Loaded' U.S. President Donald Trump said in a Tweet the administration...

Drone strikes on marquee Saudi Arabian oil assets could lead to a spike in crude prices today, particularly contracts priced in Brent terms, the global benchmark. On Saturday, a Yemeni militia group, the Houthi rebels, took credit for the attack, saying they flew 10 drones over assets controlled by...

After closing down 2.87% on Wednesday, crude oil futures are continuing lower this morning after an OPEC+ meeting resulted in no more supply cuts. Thursday’s meeting focused instead on compliance and bringing participating countries’ output down to quota. Despite yesterday’s...

After a weekend of huddles behind the line of scrimmage, the new week starts with some potentially market-moving economic huddles on the calendar.  Most importantly, we get meetings of the European Central Bank (ECB) and OPEC. The ECB is widely expected to enact some sort of new economic...

With the latest OPEC meeting in the books – now dubbed OPEC+, more on that later – the usual hand-wringing about OPEC's lack of power, incompetence and irrelevance poured through the writeups from the Vienna gathering. Liam Denning of Bloomberg summed up that view in an analysis from the meeting...

As is often the case, shares of oil services providers and the related exchange traded were highly sensitive to crude's gyrations in the second quarter, prompting a nearly 16% for the VanEck Vectors Oil Services ETF (NYSE: OIH). What Happened OIH, one of the largest oil services ETFs, and rival...

On Monday, OPEC reached a deal to extend its crude oil production cuts until March 2020. On Tuesday, Russia and nine other non-OPEC oil producers also reached a deal to cap oil production in an effort to support crude oil prices in a softening global manufacturing environment. The Numbers...

Oil prices were trading lower Tuesday morning despite OPEC and its allies reaching an agreement to extend supply cuts for another nine months. Agreement Reached OPEC and officials from other oil producing countries gathered in Austria Monday to vote on extending the 2017 supply cuts, according to...

OPEC will meet this coming week after a six-month period in which one could argue the group had racked up a record of success it had not seen in a long time. Then why does it feel like there's a feeling of failure around the Vienna gathering? When OPEC last met in December, the price of crude oil...

Brent and U.S. crude futures were each higher by more than 2% Monday morning ahead of expectations for OPEC to extend an oil output cut. What To Know OPEC and its allied nations will gather in Austria Monday and Tuesday with a key topic of conversations the extension of the 2017 production cuts....