Commodities Corner: OPEC delays output-cut decision, raising fears that oil producers won’t strike a deal

Concerns about a slowdown in global oil demand are a key to why oil prices stayed in check Friday, despite a decision by major oil producers to cut additional barrels from their production quotas in January......»»

In a sign of the times, the Organization of the Petroleum Exporting Countries and allied oil producers will hold a virtual meeting Thursday to make a decision on global crude production that could make or break the oil market......»»

Oil slid on Friday as worries about demand for fuel being sapped by the global coronavirus outbreak were heightened by concern over non-OPEC crude producers not yet having agreed to cut output further to support prices......»»

The Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, will meet this week as speculation that the oil producers will consider increasing the size of crude output cuts already in place grows......»»

The Organization of the Petroleum Exporting Countries and their allies, collectively known as OPEC+, will meet later this week as speculation that the oil producers will consider increasing the size of crude output cuts already in place grows......»»

The Organization of Petroleum Exporting Countries’ decision to extend production curbs by another nine months shows just how concerned the group and allied oil producers are about a slowdown in energy demand......»»

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Oil futures trade on a mixed note Tuesday as traders eye the pace of recovery in Texas energy output in the wake of last week's winter storms and speculation surrounding a decision on production by major oil producers next week......»»

Saudi Arabia and Russia deadlocked Monday over whether their producers’ alliance should boost crude output amid a resurgent pandemic, delegates said after a day of talks ended without a deal......»»

Oil futures edge lower to kick off 2021 as traders await an OPEC+ meeting that will see major producers decide whether to further relax output curbs that helped oil finish last year on a strong note......»»

Oil prices edged lower on Monday, the first day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers......»»

The world is rapidly running out of space to store crude oil and producers may finally have to admit defeat and cut output after prices fell below zero this week with supply overwhelming demand as economies slump in the wake of the coronavirus pandemic......»»

Goldman Sachs said on Sunday that the deal between major oil producers to cut output by nearly 10 million barrels per day is 'historic yet insufficient,' adding that no deal would be enough to offset the sharp drop in demand already occurring......»»

Global shares fell on Monday as investors braced for more signs of economic damage from the coronavirus pandemic although a landmark deal by OPEC and its allies to slash output helped oil prices climbed in volatile trade......»»

Oil futures were little changed on Sunday even after major oil producers reached a deal for a record 10 million-bpd output cut, with analysts saying the agreement was insufficient to head off oversupply as the coronavirus pandemic hammers demand......»»

U.S. President Donald Trump on Sunday praised a deal among the world's top oil producers to cut global petroleum output, saying it would save jobs in the U.S. energy industry......»»