OPEC agrees modest hike in oil supply after Saudi and Iran compromise
OPEC agreed on Friday to raise oil production by around 1 million barrels per day from July for the group and its allies, an OPEC source said.
Oil jumps as OPEC agrees to modest output hikes
Oil prices soared on Friday after oil producers agreed to modest crude output increases to compensate for losses in production at a time of rising global demand.
Oil traders ready for musical chairs as China tariffs loom
Oil markets are bracing for a reshuffle of global trade flows as China threatens to impose tit-for-tat tariffs on imports of U.S. energy products, including crude.
Iran signals compromise for modest rise in OPEC oil output
Iran signaled on Wednesday it could compromise on a small increase in OPEC oil output when the group meets this week, as Saudi Arabia scrambled to convince fellow members of the need for a larger rise in production.
Saudi energy minister says market demands more oil in second half
Saudi Energy Minister Khalid al-Falih said on Wednesday that the market demands more oil in the second half of this year and that OPEC was converging on a good decision on production policy this week.
Turkey opens TANAP pipeline that will bring Azeri gas to Europe
Turkey and Azerbaijan have inaugurated the TANAP pipeline that will bring gas to Europe while bypassing Russia. The project has won political support from both the United States and European Union.
Russia tells EU gas supplies via Ukraine under no immediate threat
Russia’s Energy Ministry said on Saturday that gas giant Gazprom’s intention to terminate contracts with Ukraine poses no immediate threat to natural gas supplies to Europe through Ukraine.
Oil hits new two-and-a-half year highs as higher output looms
Oil prices rose on Wednesday to new two-and-a-half year highs as robust output in the United States and Russia balanced tensions from a sixth day of unrest in OPEC member Iran.
|
