About: OPEC

Agrifood 20-06-2022

Ukraine’s grain ‘OPEC’ – What is it and is it worth the price?

Ukraine is reviving Russia’s pipe dream of setting up an organization of gran exporting countries - but with Western partners. However, experts warn of potential negative consequences of a grain 'OPEC' with more clarification on its functioning needed.
Energy 03-06-2022

Oil price rises even as OPEC boosts output more than expected

Oil prices rose Thursday despite an agreement by major crude producers to boost output more than expected, while US stocks rallied ahead of closely-watched employment data seen as a key input to the inflation debate. In Vienna, the OPEC+ group...
Global Europe 12-04-2022

OPEC tells EU it’s not possible to replace potential Russian oil supply loss

OPEC told the European Union on Monday (11 April) that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not...
Global Europe 01-06-2021

OPEC, Russia seen gaining more power with Shell Dutch ruling

Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia.
Global Europe 02-06-2020

Putin and Trump discuss G7 summit

US President Donald Trump told President Vladimir Putin in a phone call on Monday (1 June) about his idea of holding an expanded Group of Seven summit later this year with a possible invitation for Russia, the Kremlin and the White House said.
Energy 13-04-2020

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic

OPEC and allies led by Russia agreed on Sunday (12 April) to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%.
Energy 16-03-2020

US shale will be first casualty of oil price war

Although the oil price war was triggered by the Russia-Saudi fall-out, US shale will be the first casualty, writes Robin Mills. In the process, the US will learn that producing a lot of oil at high prices is not the “energy dominance” it has made a centrepiece of foreign policy, he argues.
Global Europe 13-03-2020

US shale under pressure to make ‘at least’ 25% price cuts

US shale producers are seeking sharp service costs cuts to deal with plummeting prices and shrinking demand, according to executives and a letter sent to top providers, driving home the oil industry’s desperate efforts to cope with a market dive.
Energy 12-03-2020

Russia to OPEC – deeper oil cuts won’t work

This week’s oil price rout had become inevitable and cutting output has ceased to make sense because it is unclear how deep the impact of the coronavirus on demand will be, Russia’s deputy energy minister said in an interview with Reuters on Wednesday (11 March).
Global Europe 11-03-2020

Russian ministry, oil firms to meet after OPEC talks collapse and prices plunge

Russia’s Energy Ministry will meet with the country’s oil companies on Wednesday (11 March) to discuss future cooperation with the Organization of the Petroleum Exporting Countries, among other issues, two sources familiar with the plan told Reuters.
Energy 17-06-2019

Slumped economic growth will mean oil oversupply next year, IEA says

Slower oil demand growth in 2019 is expected to lead to a glut of oil next year, which could have significant impacts on energy prices in Europe.

How will oil producing countries meet the challenge of climate change?

As the United Nations COP24 gets underway in Poland, leading oil and gas players – countries and companies – are confronted with the challenge of mapping out their share of the new energy economy, writes Robin Mills.
Energy 06-04-2018

Russia says wider cooperation arrangement with OPEC could be indefinite

Russian Energy Minister Alexander Novak said that an arrangement under which Moscow cooperates with the OPEC oil group could become indefinite once a current deal to curb oil production expires in the end of the year.
Energy 10-10-2017

OPEC Secretary General urges US shale oil producers to help cap global supply

OPEC’s Secretary General Mohammed Barkindo today (10 October) called on US shale oil producers to help curtail global oil supply, warning extraordinary measures might be needed next year to sustain the rebalanced market in the medium to long term.
Energy 14-07-2017

Energy guru lifts the veil on first Putin-Trump meeting

EXCLUSIVE/ Energy guru Igor Yusufov shared  his views with EURACTIV.com on the first bilateral meeting between Russian President Vladimir Putin and his US President Donald Trump at the G20 summit, as well as on the global gas and oil business.
Global Europe 15-05-2017

Saudi Arabia, Russia agree oil output cuts to push up prices

Saudi Arabia and Russia, the world's two top oil producers, agreed today (15 May) to extend oil output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices.
Euro & Finance 10-01-2017

Russian central bank governor voted best in Europe for 2017

British monthly magazine The Banker has voted the governor of Russia’s main financial institution as Central Banker of 2017, after the Russian economist halved inflation in 2016. EURACTIV’s partner Milano Finanza reports.

Climate change 15-06-2015

EU demands more urgency in climate negotiations

European negotiators were frustrated by the slow progress made at the climate negotiations in Bonn. The UN insists that establishing a climate of confidence is vital for the success of the COP 21. EURACTIV France reports