OPEC approves output rise of about 1 Mn barrels

OPEC members have agreed on a combined increase in crude oil output of one million barrels per day, the oil minister of the cartel's kingpin Saudi Arabia said Friday.

Oil prices spike sharply after OPEC fails to deliver

Crude oil prices were soaring in early Friday trading after OPEC apparently disappointed with the terms of a consensus agreement on production.

OPEC ministers agree to extend oil production cut deal until end of 2018

OPEC ministers agreed at the meeting on November 30 to extend the oil production reduction agreement until the end of 2018, Oil and Gas Minister of Oman Mohammed bin Hamad Al Rumhy told TASS.

Moscow, Riyadh to Propose Oil Output Cut Deal Extension for Another Nine Months

Moscow and Riyadh are set to propose the prolongation of the Vienna agreement on oil output cuts for another nine months, the joint statement of the Russian and Saudi energy ministers said Monday.

Russia to Create Monitoring Group to Control Oil Output Reduction

Russia and Kuwait would head a monitoring committee overseeing the oil output agreement between the Organizations of the Petroleum Exporting Countries (OPEC) and a number of other oil producing states, Azerbaijan's Energy Minister Natig Aliyev said Saturday.

Russia ready to join OPEC's new output freeze deal

Russian Energy Minister Alexander Novak on Wednesday welcomed the OPEC's newly-clinched oil output freeze agreement, saying that Russia was ready to join the deal to stabilize global oil market.

Venezuelan proposal to freeze oil output can stabilize prices. A price of 80 $ benefits the global economic system

Venezuela's proposal for oil-producing countries to freeze oil output could stabilize prices in the next few months if adopted, President Nicolas Maduro said Friday.

Brent Oil Price Hits Highest Level in a Year

Brent North Sea crude rose to $53.45 a barrel on Monday — its highest price in a year after President Vladimir Putin indicated Russia was ready to join measures to limit global oil production.

OPEC meeting ends without deal on oil production freeze

The world's biggest oil producers have failed to reach an agreement at a meeting aimed at freezing output and reassuring markets that a recent recovery in prices could be sustained.

Oil Prices Drop Over China Weak Economic Outlook Not Middle-Eastern Crises

Global oil prices are sliding downward primarily due to a weak economic outlook in key commodity consuming countries, such as China, whereas the mounting political tensions in the Middle East are unlikely to boost the demand, experts told Sputnik Wednesday.

Oil price down again on oversupply concerns

Oil prices have been volatile again, hit by continuing oversupply, the strong dollar and weak global demand.

Oil prices dipped Friday in a market burdened by a persistent oversupply of crude.

At about 1300 GMT, US benchmark West Texas Intermediate (WTI) for delivery in December was trading down 37 cents at $40.17 a barrel.

Oil Crashes to Lowest Price in Six Years on China Fears

WTI crude has dropped below $40 per barrel for the first time in six years on Friday.

Oil Prices Drop on Glut Supply Fears

Oil prices resumed their fall on Monday edging down to just under $42 a barrel.

Ministers of OPEC member-states leave oil output quotas unchanged

OPEC has kept oil production quotas unchanged at 30 mln barrels per day, Saudi Arabia's Minister of Petroleum and Mineral Resources, Ali al-Naimi, said Friday.

Russian oil company CEO says oil price could reach $25 per barrel

The price of oil could fall to $25 per barrel, head of Lukoil Vagit Alekperov told journalists on Friday.

Alekpetov said that based on the latest statements from Saudi Arabia, he cannot rule out a price drop to $25. He added that he expects significant price fluctuation this year, considering that by January 15 the price varied within a 10% range.

ΙΕΑ: Μεγάλες Ανατροπές στην Παγκόσμια Αγορά Πετρελαίου - Πρώτες σε Παραγωγή Αργού ως το 2017 οι ΗΠΑ

Στον μεγαλύτερο εξαγωγέα πετρελαίου ως το 2017, εκτοπίζοντας την Σαουδική Αραβία, θα έχουν εξελιχθεί οι ΗΠΑ, ενώ ως το 2035 θα είναι ενεργειακά αυτάρκης. Αυτά αναφέρει το World Energy Outlook 2012 του Διεθνούς Οργανισμού Ενέργειας (ΙΕΑ) που δόθηκε σήμερα στη δημοσιότητα. Μάλιστα, το WEO προβλέπει ότι συνολικά η Βόρεια Αμερική μετατρέπεται σε περιοχή εξαγωγής πετρελαίου, με συνέπεια η πετρελαϊκή παραγωγή της Μέσης Ανατολή να διοχετευθεί ως το 2035 κατά 90% προς την Ασία. Επιπλέον, αναφέρει ότι ως το 2020 οι ΗΠΑ θα μετατρέπονται σε καθαρό εξαγωγέα φυσικού αερίο.