Oil: supply glut weighs, sources say Russia to steer clear of OPEC cuts
Russia wants to stay out of any oil-production cuts touted in an OPEC-led supply pact, Russian sources told Reuters. As David Pollard reports, it could weigh on sentiment in markets already facing record supply levels......»»
OPEC may fight coronavirus price slide with deeper oil supply cuts
OPEC could agree on deeper oil supply cuts this week, with or without Russia's support, to halt the slide in crude prices triggered by the global spread of the coronavirus, said two sources familiar with the talks......»»
OPEC+ likely to extend oil supply cuts until June: sources
OPEC and its allies are likely to extend existing oil output cuts when they meet next month until mid-2020, with non-OPEC oil producer Russia supporting Saudi Arabia's push for stable oil prices amid the listing of state oil giant Saudi Aramco......»»
What Happened to the Oil Glut?
A glut of stored oil that helped keep prices low for years is almost gone, thanks to production cuts by OPEC and Russia, a humming global economy and a series of small but meaningful supply disruptions......»»
Oil rises 1 percent on supply cuts, but economic slowdown weighs on outlook
Oil prices rose 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook capped gains......»»
Oil up 1 percent amid supply cuts, but China slowdown weighs on demand outlook
Oil prices rose by more than 1 percent on Tuesday amid supply cuts led by producer club OPEC and Russia, although a darkening economic outlook may soon weigh on growth in fuel demand......»»
Oil prices rally as producers tackle supply glut
Output cuts, if all sides live up to the agreement, will end the price war between Russia and Saudi Arabia and eliminate 20 million crude barrels a day from a market that has been overwhelmed with supply......»»
OPEC and Oil-Producing Nations Agree to Huge Barrel Cut to Boost Crashing Prices
The deal cuts nearly 10 million barrels, or a tenth of global supply DUBAI, United Arab Emirates — OPEC, Russia and other oil-producing nations on Sunday f.....»»
OPEC+ agrees largest ever oil output cut of 9.7 million bpd: sources
OPEC, Russia and other oil producing nations agreed on Sunday to cut output by a record amount, representing around 10% of global supply, to support oil prices amid the coronavirus pandemic, sources said......»»
OPEC, allies to confer on Sunday to try to end standoff over cuts plan: sources
OPEC and its allies will hold a virtual meeting on Sunday evening in a bid to end a standoff that has prevented the finalisation of a global oil supply cut pact, six OPEC+ sources said......»»
Saudi, others resist Mexican plan to make small oil output cuts - sources
Saudi Arabia and other oil producers in the OPEC+ group pushed back on Friday on a Mexican plan to cut less than requested under plans for global supply curbs, two sources from the OPEC+ group said on Friday......»»
Oil climbs as Saudi Arabia, Russia reportedly agree to output cuts
WTI crude had plunged 60 percent from its Jan. 6 peak through Wednesday as the price war between Russia and Saudi Arabia exacerbated a supply glut while the COVID-19 pandemic crushed demand......»»
Saudi, Russia move closer to record oil cut deal: sources
OPEC and other oil nations held talks on Thursday on record production cuts of up to 20 million barrels per day, equivalent to about 20% of global supplies, to support prices hammered by the coronavirus crisis, OPEC and Russian sources said......»»
Big OPEC+ oil output cuts depend on U.S., others joining: sources
Saudi Arabia, Russia and allied oil producers will only agree to deep cuts to their crude output at talks this week if the United States and several others join in with curbs to help prop up prices that have been hammered by the coronavirus crisis......»»
OPEC+ meeting delayed as Saudi Arabia and Russia row over oil price collapse: sources
OPEC and Russia have postponed a meeting due on Monday to discuss oil output cuts until April 9, OPEC sources said on Saturday, as a row between Moscow and Saudi Arabia over who is to blame for plunging crude prices intensified......»»
Oil plunges after Saudi Arabia, Russia talks stall
Crude oil prices crashed into a bear market this year after Russia refused to join Saudi Arabia and other OPEC members in cutting production to trim a supply glut due to demand destruction from the COVID-19 pandemic......»»
OPEC oil cuts deal falls apart as Russia resists, crude prices plunge
OPEC's plans for deep and prolonged oil cuts were derailed on Friday as non-OPEC Russia refused to support the move arguing that it was too early to predict the impact of a coronavirus outbreak on global energy demand, sources told Reuters......»»
OPEC fails to secure deal with non-OPEC on oil cuts: OPEC sources
OPEC has failed to secure a deal with Russia and other non-OPEC producers on its plans for big, additional oil production cuts, two OPEC sources said on Friday at talks between ministers from the informal alliance known as OPEC+......»»
OPEC oil cuts deal in trouble as Russia resists
OPEC's plans for deep and prolonged oil cuts were derailed on Friday as non-OPEC Russia refused to support the move arguing that it was too early to predict the impact of a coronavirus outbreak on global energy demand, sources told Reuters......»»
Oil prices climb ahead of OPEC meeting to discuss supply cuts
Oil prices climbed higher on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market......»»
Oil rises more than 1% ahead of OPEC meeting to discuss supply cuts
Oil prices rose more than 1% on Thursday ahead of an OPEC meeting in which Saudi Arabia is expected to push the group and its allies including Russia to agree to further output cuts to support the market......»»