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This Is How Much Each OPEC+ Member Needs To Cut | OilPrice.com

This Is How Much Each OPEC+ Member Needs To Cut | OilPrice.com:OPEC published on Friday the long-awaited list of oil production quotas for each country in the OPEC+ deal, as it seeks to shore up market confidence that the cartel and allies will do whatever it takes to rebalance the market.OPEC and its non-OPEC partners led by Russia decided in early December to start a new round of cuts, aiming to lift the price of oil that had started to plummet in October on fears of building oversupply and un...
Tags: Travel, Russia, Opec, Vienna, Rupert Neil Bumfrey


Oil jumps 3 percent on OPEC plan details, U.S.-China trade hopes

Oil prices rallied about 3 percent on Friday, boosted after OPEC detailed specifics on its production-cut activity to reduce world supply, and on signals of progress in resolving the U.S.-China trade war. U.S. West Texas Intermediate (WTI) crude futures were up $1.70 to $53.77 a barrel, or 3.3 percent. The Organization of the Petroleum Exporting Countries on Friday issued a list of oil production cuts by its members and other major producers for six months starting on Jan. 1 to boost confide...
Tags: Science, China, Opec, Organization of the Petroleum Exporting Countries, U S West Texas Intermediate WTI


Oil climbs as OPEC output drop eases concerns about glut

Oil prices rose on Friday after an OPEC report showed its production fell sharply last month, easing some concerns about prolonged oversupply.
Tags: Money, Opec, businessNews


Oil climbs one percent as OPEC output drop eases concerns about glut

Oil prices rose more than 1 percent on Friday after an OPEC report showed its production fell sharply last month, easing some concerns about prolonged oversupply.
Tags: Money, Opec, businessNews


Oil climbs 1 pct as OPEC output drop eases glut concerns

Tempering support for prices, however, are signs of weakening demand and surging U.S. output.
Tags: Finance, Opec, Article, Reuters, FBN, Fbn/markets, Fox-business/markets, Fox-business/markets/oil, Fbc4d81e-e2ad-547a-8c31-8b29a3400d51


Oil jumps 3 pct on OPEC plan details, US-China trade hopes

Tempering support for prices, however, are signs of weakening demand and surging U.S. output.
Tags: Finance, Opec, Article, Reuters, FBN, US China, Fbn/markets, Fox-business/markets, Fox-business/markets/oil, Fbc4d81e-e2ad-547a-8c31-8b29a3400d51


Oil climbs 1 percent on OPEC output cut, but U.S. production robust

Oil prices rose over 1 pct on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing some fears about prolonged oversupply.
Tags: Money, Opec, businessNews


IEA Sees Oil Demand Growth Defying Economic Slowdown, For Now - Bloomberg

IEA Sees Oil Demand Growth Defying Economic Slowdown, For Now - Bloomberg:Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Agency.After slumping in the fourth quarter, oil prices “will provide some stimulus to demand,” said the Paris-based agency, which advises most of the world’s major economies on energy policy. Still, as “the mood music in the global economy is ...
Tags: Travel, China, Opec, Bloomberg, Paris, IEA, International Energy Agency, Rupert Neil Bumfrey


OPEC publishes output cut quota for six months to June

OPEC on Friday published a list of new levels of reduction in oil output by its members and other major producers for the six months to June as part of the group's latest production-cutting deal.
Tags: Money, Opec, businessNews


Oil climbs 1 percent on OPEC output cut, hopes for easing China-U.S. trade tensions | Reuters

Oil climbs 1 percent on OPEC output cut, hopes for easing China-U.S. trade tensions | Reuters:Oil prices rose 1 percent on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.International Brent crude oil futures LCOc1 were up 62 cents, or 1.01 percent, at $61.80 per barrel at 0753 GMT. Brent has risen about 2 percent this week, its third straight week of gains.U.S. West Tex...
Tags: Travel, China, Opec, Brent, Reuters, China U S, Rupert Neil Bumfrey, International Brent


Oil climbs 1 percent on OPEC output cut, hopes for easing China-U.S. trade tensions

Oil prices rose 1 percent on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.
Tags: Money, China, Opec, businessNews


Oil rises 1 percent on OPEC cuts, hopes for easing China-U.S. trade tensions

Oil prices climbed 1 percent on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.
Tags: Money, China, Opec, businessNews


Oil up 1 percent on OPEC cuts, hopes of easing Sino-U.S. trade tensions

Oil prices rose by 1 percent on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.
Tags: Money, Opec, businessNews


Oil up on OPEC output cuts, hopes of easing US/China trade tensions

Oil prices rose on Friday after a report from the Organization of the Petroleum Exporting Countries (OPEC) showed its production fell sharply last month, easing fears about prolonged oversupply.
Tags: Money, Opec, businessNews, US China


Oil prices edge up as OPEC says its crude output fell sharply in December

U.S. oil prices inched higher on Friday after a report from the Organization of the Petroleum Exporting Countries showed its production fell sharply last month, easing fears about prolonged oversupply.
Tags: Money, Opec, businessNews, Organization of the Petroleum Exporting Countries


OPEC cuts offset headwinds from slowing economy: Kemp | Reuters

OPEC cuts offset headwinds from slowing economy: Kemp | Reuters:Oil traders seem increasingly convinced OPEC’s prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth.Brent futures prices have stabilized around $60 per barrel in recent sessions, well below the peak of over $85 at the start of October, but significantly higher than the trough of less than $50 in late December.More importantly, Brent’s six-month calendar spread h...
Tags: Travel, Opec, Reuters, Kemp, Rupert Neil Bumfrey


Before start of new oil pact, OPEC made progress averting glut | Reuters

Before start of new oil pact, OPEC made progress averting glut | Reuters:OPEC cut oil output sharply in December before a new accord to limit supply took effect, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand.The Organization of the Petroleum Exporting Countries said in a monthly report that its oil output fell by 751,000 barrels per day (bpd) in December to 31.58 million bpd, the biggest month-on-month drop in...
Tags: Travel, Russia, Opec, Reuters, Petroleum Exporting Countries, Rupert Neil Bumfrey


Oil slides on increased US output and US-China trade fears

OPEC and non-members plan to cut production by a joint 1.2 million bpd this year.
Tags: Finance, US, Opec, Article, Reuters, FBN, US China, Fbn/markets, Fox-business/markets, Fox-business/markets/oil, E9d69280-5d5f-5775-8eb8-3956abd627ae


OPEC sees oil market not yet out of woods, tries to avoid new glut

OPEC is seeking to avoid a build-up in oil inventories above the five-year average through a new deal with non-OPEC partners to curb supply in 2019, its secretary general told Reuters on Thursday.
Tags: Money, Opec, businessNews, Reuters


Opec forecasts fall in crude demand on global imbalance | Financial Times

Opec forecasts fall in crude demand on global imbalance | Financial Times:Opec expects demand for the cartel’s crude in 2019 at almost 1m barrels a day less than last year as supply is expected to outweigh demand, something that has forced global producers to enact output curbs.In its monthly oil market report, Opec said production from outside of the cartel is forecast to grow by a robust 2.1m b/d this year — a small downward revision — to average almost 64.2m b/d.US production at record levels...
Tags: Travel, US, Opec, Financial Times, US China, Rupert Neil Bumfrey


Before start of new oil pact, OPEC made progress averting glut

OPEC said on Thursday it had cut oil output sharply in December before a new accord to limit supply took effect, suggesting producers have made a strong start to averting a new glut.
Tags: Money, Opec, businessNews


Oil gains with Wall Street, but rising U.S. fuel stocks weigh | Reuters

Oil gains with Wall Street, but rising U.S. fuel stocks weigh | Reuters:Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined product inventories and record crude production.Brent crude LCOc1 futures rose 68 cents to settle at $61.32 a barrel. U.S. West Texas Intermediate (WTI) crude CLc1 futures rose 20 cents to settle at $52.31 a barrel.Boosting oil prices, Wall Street’s main i...
Tags: Travel, Opec, Reuters, Rupert Neil Bumfrey


Oil gains with Wall Street, but rising U.S. fuel stocks weigh

NEW YORK (Reuters) - Oil prices edged higher on Wednesday, buoyed by a U.S. equity market rally and a supply cut agreement by OPEC+, but gains were limited by data showing growing U.S. refined product inventories and record crude production.
Tags: New York, Science, Opec, Reuters Oil


Data show US sanctions hitting #Iran’s oil exports hard | Financial Times

Data show US sanctions hitting Iran’s oil exports hard | Financial Times:Data on Iran’s crude exports bear the scars of US sanctions on the oil producer, with December figures showing a fall to just 1.1m barrels a day — almost 60 per cent down from levels in the spring.The volume of Iranian exports was one of the key focuses for oil traders in 2018, as the US moved to reimpose punishing economic measures on the Opec member. President Donald Trump reversed a deal which had sought to curb Iran’s n...
Tags: Travel, US, Opec, Iran, Donald Trump, Rupert Neil Bumfrey


Oil firm as supply cuts point to tighter market despite weakening economy | Reuters

Oil firm as supply cuts point to tighter market despite weakening economy | Reuters:Oil prices firmed on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown.Brent crude oil futures LCOc1 were at $60.83 per barrel at 0748 GMT, 19 cents, or 0.3 percent above their last close.West Texas Intermediate (WTI) crude futures CLc1 were up 10 cents, or 0.2 percent, at $52.21 a barrel. ...
Tags: Travel, Opec, Reuters, Rupert Neil Bumfrey


Oil steady on supply optimism but economic worries loom

LONDON (Reuters) - Oil prices steadied on Wednesday after climbing about 3 percent in the previous session on expectations that OPEC-led production cuts will tighten supply and that possible Chinese stimulus might help the global economy.
Tags: Science, London, Opec, Reuters Oil


Oil firm as supply cuts point to tighter market despite weakening economy

Oil prices firmed on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts will tighten markets despite signs of a global economic slowdown.
Tags: Money, Opec, businessNews


Oil holds ground as OPEC-led supply cuts keep tighter market hopes alive

Oil prices were steady on Wednesday after climbing about 3 percent in the previous session as expectations that OPEC-led supply cuts can tighten market fundamentals offset signs of a global economic slowdown.
Tags: Money, Opec, businessNews


Oil dips on global economic slowdown, but OPEC-led cuts provide support

Oil prices dipped on Wednesday on increasing signs of a global economic slowdown, although OPEC-led supply cuts helped support Brent crude above $60 per barrel.
Tags: Money, Opec, businessNews


Oil prices dip on signs of economic slowdown, but OPEC-led cuts provide support

SYDNEY/SINGAPORE (Reuters) - Oil prices dipped on Wednesday on increasing signs of a global economic slowdown, although OPEC-led supply cuts helped support Brent crude above $60 per barrel.
Tags: Science, Opec, Sydney, SINGAPORE Reuters Oil