OPEC

Government, Business, Fuel

Oil Rises After OPEC Reaffirms Commitment to Production Cuts

Bloomberg News

Oil in New York rose to the highest level this year after OPEC and its partners agreed to go beyond their pledged supply curbs in the coming months.

Tsuyoshi Inajima and Alex Longley | Bloomberg News
March 19, 2019
Government, Business, Fuel

Oil Imports at 23-Year-Low, Output Hits Another Record

Oil Rig Getty Images

The United States imported the least amount of crude oil on a weekly basis in 23 years, as OPEC-members Saudi Arabia and Venezuela cut their shipments to unusually low levels.

Jessica Summers | Bloomberg News
February 27, 2019
Government, Business, Fuel

Trump Attacks OPEC Again, Warning Against High Oil Prices

OPEC Ali Mohammadi/Bloomberg News

President Donald Trump resumed his attacks on OPEC, saying the world is too fragile to handle a price hike and urging the cartel to “relax and take it easy.”

Bloomberg News
February 25, 2019
Government, Business, Fuel

OPEC Sees Weaker Demand for Its Crude as US Oil Supply Thrives

Oil Rig Jim Gehrz/Minneapolis Star Tribune

OPEC reduced its estimate for the amount of crude the world needs it to pump this year as U.S. production continues to thrive and the demand outlook falters.

Grant Smith | Bloomberg News
February 12, 2019
Government, Business, Fuel

Oil Dips as China Slowdown Signals Demand Drop

Oil Rig Callaghan O'Hare/Bloomberg News

Crude skidded to its worst loss in a month as disappointing corporate profit forecasts stoked concern about the economy, bruising a market already anxious about booming American oil supplies.

Alex Nussbaum | Bloomberg News
January 28, 2019
Business, Fuel

Oil Slips as Record US Production Undermines OPEC Supply Cut

Oil Production Ali Mohammadi/Bloomberg News

Oil retreated below $52 a barrel as data showing record U.S. crude production suggested markets may remain oversupplied despite output cuts by OPEC and its allies.

Heesu Lee and Grant Smith | Bloomberg News
January 17, 2019
Government, Fuel

Oil Extends Longest Rally in 17 Months as Supplies Seen Tighter

Oil Rig Taylor Weidman/Bloomberg News

Oil extended its longest run of daily gains in 17 months on renewed efforts by the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC’s output cuts.

Grant Smith | Bloomberg News
January 8, 2019
Government, Fuel

Oil Set for Longest Gain in 17 Months on US Economy, OPEC Cuts

Oil Rig Brittany Sowacke/Bloomberg News

Oil headed for its longest stretch of daily gains in more than 17 months as the U.S. Federal Reserve sought to ease investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect.

Grant Smith | Bloomberg News
January 7, 2019
Government, Business, Fuel

OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn

Oil pump Shutterstock

The wind changed again in a stormy oil market as OPEC signaled it will consider a return to cutting output next year, potentially making the second production U-turn this year.

Grant Smith and Javier Blas | Bloomberg News
November 8, 2018
Government, Business

Trump Presses OPEC to Reduce Prices as Crude Trades Near $80

OPEC oil rigs Getty Images

President Donald Trump resumed his criticism of OPEC, saying on Twitter that the cartel “must get prices down now!”

James Herron | Associated Press
September 20, 2018

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