All publications by tag «OPEC»
REUTERS - U.S. light crude oil CLc1 hit a two-month low of $63.59 a barrel before recovering to trade at $64.76, down 30 cents, by 0950 GMT. North Sea Brent LCOc1, meanwhile, was up 60 cents at $74.04 a barrel.
ARAB NEWS - On June 14, Saudi Arabia’s energy minister, Khalid Al-Falih, said it was “inevitable” OPEC+ participants would vote to boost oil production gradually at next week’s meeting . Speaking to reporters in Moscow, Al-Falih said “as usual we will do the right thing … I think we’ll come to an agreement that satisfies most importantly the market.” The deal leaders, Saudi Arabia and Russia, are said to have proposed plans for the group to add as much as 1 million barrels per day to production.
REUTERS - Brent crude LCOc1 had edged up 3 cents to $75.97 a barrel by 0658 GMT, after settling down 80 cents the session before. U.S. West Texas Intermediate crude CLc1 was up 5 cents at $66.94 a barrel, having settled the last session up 25 cents. It touched a two-week high of $67.16 on Thursday.
REUTERS - OPEC and U.S. representatives have met at least twice this year, with a third high-profile meeting set for Vienna next week. Finding the optimal balance of crude supply and demand will be the hot topic.
REUTERS - Brent crude LCOc1 was down 30 cents at $75.58 a barrel by 1000 GMT. U.S. light crude CLc1 was 15 cents lower at $66.21.
REUTERS - Brent crude futures LCOc1, the international benchmark for oil prices, were at $76.79 per barrel at 0654 GMT, down 53 cents, or 0.7 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 38 cents, or 0.6 percent, at $65.57 a barrel.
BLOOMBERG - Venezuela wrote to fellow OPEC members urging them to unite against U.S. sanctions, echoing a similar letter from Iran, according to people with knowledge of the matter.
REUTERS - Brent crude LCOc1 rose 78 cents to $76.16 a barrel by 0645 GMT after dropping to its lowest since May 8 on Tuesday. U.S. West Texas Intermediate (WTI) crude futures CLc1 were up 33 cents at $65.85 a barrel, having touched a near two-month low on Tuesday.
REUTERS - “We have to look into the situation which has panned out on the market today, from the point of view of the volume cuts, inventories decline, shortages on the market, and to adjust the figures,” Novak told reporters.
PLATTS - Russia's largest crude oil producer, Rosneft, is in a position to add 100,000 b/d to production in a few days if the conditions of the OPEC/non-OPEC production cut deal are eased, analysts at Aton said in a research note released following meetings with Rosneft officials.