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Non-OPEC nations

Oil prices dip as oversupply concerns linger

Oil prices dip as oversupply concerns linger

Fri, Apr 07, 2017

Oil prices dipped on Friday as ongoing concerns about oversupply outweighed an OPEC-led production cut and strong refinery activity. Brent crude futures , the international benchmark for oil, were at $54.85 per barrel at 0109 GMT, down 4 cents from their last close.

OPEC chief confident in commitment, enthusiasm for output cut deal

OPEC chief confident in commitment, enthusiasm for output cut dea...

Sat, Jan 14, 2017

"I remain confident... with the level of commitment and enthusiasm that I have seen among the 24 participating countries whom I am in regular contact with that this historic and landmark decision will be implemented fully," Mohammed Barkindo told Reuters in an interview in Abu Dhabi.

Oil prices up in quiet session as year-end approaches

Oil prices up in quiet session as year-end approaches

Fri, Dec 23, 2016

Oil prices rose in subdued trading on Thursday, supported by strong U.S. economic data and optimism that crude producers would abide by an agreement to limit output.

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Oil prices fall on rising U.S. crude stocks, OPEC output concerns

Oil prices fall on rising U.S. crude stocks, OPEC output concerns

Wed, Dec 14, 2016

Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut.

Asian energy firms rally with oil on output cut deal

Asian energy firms rally with oil on output cut deal

Mon, Dec 12, 2016

The 11 nations, led by Russia, said they would pump more than half a million fewer barrels a day from next month in an effort to address a global supply glut that has scythed prices over the past two years.

Oil extends gains on hopes for non-OPEC output cuts

Oil extends gains on hopes for non-OPEC output cuts

Fri, Dec 09, 2016

Oil prices extended gains on Friday, buoyed by growing optimism that non-OPEC producers might agree to cut output following a cartel agreement to limit production.

A dollar increase in crude oil price raises India’s import bill by $500 million

A dollar increase in crude oil price raises India’s import bill by $500 million

Fri, Dec 02, 2016

Speculating a further increase in global crude oil prices, analysts said that every dollar increase in the price of crude oil will make India’s import bill rise by nearly half a billion dollars ($500 million).

OPEC reduces crude production, prices surge

OPEC reduces crude production, prices surge

Thu, Dec 01, 2016

The Organization of the Petroleum Exporting Countries (OPEC) agreed on Wednesday to reduce their production of crude oil to 32.5 million barrels per day, which lead to a surge in oil pricing, media reports said.

Oil, dollar and bond yields sharply higher after OPEC deal

Oil, dollar and bond yields sharply higher after OPEC deal

Thu, Dec 01, 2016

The Organization of the Petroleum Exporting Countries on Wednesday agreed to its first output cut since 2008, with Saudi Arabia accepting "a big hit" on its production. Non-OPEC Russia will also join output reductions for the first time in 15 years to help OPEC prop up oil prices.

Oil falls as non-OPEC yet to pledge concrete output steps

Oil falls as non-OPEC yet to pledge concrete output steps

Mon, Oct 31, 2016

Oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, suggesting they wanted the oil producing group to solve its differences first.

OPEC officials fail to agree on how to curb oil supplies

OPEC officials fail to agree on how to curb oil supplies

Sat, Oct 29, 2016

OPEC officials meeting in Vienna to work out the details of their plan to reduce oil production failed to reach agreement after hours of talks on Friday, amid objections by Iran which has been reluctant to even freeze its output, OPEC sources said.

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