About: OPEC
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.
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...
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...
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.
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.
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%.
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.
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.
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).
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.
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.
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.
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 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.
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.
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.
