News about OPEC

OPEC expected to keep status quo on oil output OPEC ministers gather for an eagerly awaited meeting which is widely expected to leave its output levels unchanged, despite the recent oil price collapse and global oversupply.
05 June 2015 13:47
Venezuela seeks allies outside OPEC to steady oil prices Latin American crude producer Venezuela, struggling to cope with sharply lower oil prices, is seeking support outside OPEC to stabilise the market.
03 June 2015 15:07
Saudi oil minister says OPEC strategy working OPEC's strategy of not cutting production in order to maintain market share is working, Saudi Arabia's oil minister said.
02 June 2015 12:53
Venezuela's Maduro holds talks in OPEC kingpin Saudi Venezuelan President Nicolas Maduro held talks in OPEC's leading oil producer Saudi Arabia.
12 January 2015 12:44
Venezuela's Maduro in Iran for oil talks Venezuelan President Nicolas Maduro arrived in Tehran for a 24-hour visit during which he will meet officials from fellow OPEC member Iran.
10 January 2015 11:35
Venezuela's Maduro heads to China to seek financial aid Venezuelan President Nicolas Maduro begins a trip to China and OPEC member countries late Sunday in search of financial support.
05 January 2015 12:40
OPEC won't cut output even at $20 a barrel: Saudi OPEC will not cut oil production even if the price drops to $20 a barrel and it is unfair to expect the cartel to reduce output if non-members do not.
23 December 2014 15:41
OPEC will not step in to support oil prices: Kuwait OPEC has no plans to intervene in the oil market to shore up sagging crude prices, the Kuwaiti oil minister said, as Brent crude breached the $60 mark.
17 December 2014 12:18
Venezuela to slash budget after OPEC steadies output Venezuelan President ordered his government to slash the budget of his oil-dependent and economically-weak nation.
29 November 2014 14:07
OPEC mulls oil supply glut weighing on crude prices OPEC ministers met to try to work out a deal to tackle rising oil supplies that are weighing heavily on crude prices and the cartel's revenues.
27 November 2014 12:40
Oil prices mixed ahead of key OPEC meeting Oil prices were mixed in Asia ahead of a crucial meeting of the OPEC cartel later in the week that will discuss whether to trim output, analysts said.
24 November 2014 16:45
Kuwait sees no output cut at OPEC meeting OPEC is not likely to cut crude output when it meets later this month amid hopes that the market will absorb surplus supplies, the Kuwaiti oil minister said.
11 November 2014 14:48
Venezuela wants extra OPEC meeting to halt oil-price drop Venezuela will ask for an emergency meeting of OPEC countries to try to halt sliding oil prices, Foreign Minister Rafael Ramirez said.
11 October 2014 13:45
No need for urgent OPEC meet on lower oil price: Kuwait OPEC member Kuwait said there was no need to call an emergency meeting for the producers' cartel to discuss sliding oil prices after crude hit a 17-month low.
11 September 2014 17:13
Kazakhstan to expand cooperation with OPEC Kazakhstan, a Central Asian oil producer, will expand its cooperation with the Organization of Petroleum Exporting Countries (OPEC).
14 July 2014 15:39
American Airlines, owed $750 mn, trims flights to Venezuela American Airlines, owed some $750 million by Venezuela, said Tuesday it was sharply reducing flights to the South American nation from July after the two sides failed to read a deal, a spokesman said.
18 June 2014 10:39
El Salvador joins cut-rate oil grouping El Salvador on Monday announced it has joined Petrocaribe, the Venezuelan energy subsidy program that gives access to cut-rate oil.
03 June 2014 13:40
Venezuela to repay $2 bn of debt to local importers Venezuela announced Friday it would repay a small part its debt to local importers, after currency controls have sparked mass shortages of basic goods in the oil-rich country.
31 May 2014 13:20
Mistrust overshadows Obama's Saudi trip King Abdullah meets President Barack Obama Friday as mistrust fuelled by differences over Iran and Syria overshadows a decades-long Saudi-US alliance.
28 March 2014 15:57
Anti-government rally called in Caracas amid new violence Students and opponents of the Venezuelan government have called a new rally for Wednesday to mark a month of protests in Caracas, as the death toll from demo-related violence reached 21.
12 March 2014 15:37
Advertising
Advertising