Page 3 - Opec Oil Cuts

OPEC trims oil demand in 2020; recovery doubtful in 2021 on Covid-19

World oil demand will fall by 9.06 million barrels per day (bpd) this year, the Organization of the Petroleum Exporting Countries said in a monthly report

Saudi Aramco to go ahead with plans to boost oil output capacity, says CEO

The oil company will boost outpur capacity by 1 million barrels per day (bpd) to 13 million bpd despite spending cuts this year and next year

Oil prices slip after OPEC, allies agree to loosen oil supply curbs

Brent crude fell 13 cents, or 0.3%, at $43.66 a barrel by 0015 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 18 cents, or 0.4%, to $41.02 a barrel

OPEC, Russia to extend record oil cuts until end of July: Draft deal

OPEC+ had initially agreed in April that it would cut supply by 9.7 million barrels per day (bpd) during May-June to prop up prices that collapsed due to the coronavirus crisis.

Opec, Russia meet to extend record oil supply cuts, push for compliance

An extension to cuts was contingent on high compliance, three Opec sources told Reuters

OPEC+ to meet Saturday on extending cuts, push Iraq and Nigeria to comply

The producers known as OPEC+ previously agreed to cut supply by 9.7 million barrels per day (bpd) during May and June to prop up prices which collapsed due to the coronavirus crisis

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From oil prices hitting a three-month high, May Services PMI improving from shock collapse in April to Google facing class action lawsuit, here are the top headlines of the day

Oil prices increase ahead of Opec+ meeting on extended output cuts

OPEC+ producers are considering extending their output cut of 9.7 million barrels per day (bpd), about 10 per cent of global production, into July or August

Total oil curbs could remove 19.5 mn barrels from market every day: Saudi

The OPEC+ alliance, led by Riyadh and Moscow, agreed on Sunday to slash daily production by 9.7 million bpd over the next two months

Mexican standoff throws proposed 10 mn-barrel OPEC+ oil cut in doubt

The cartel, Kuwait and Saudi Arabia say Mexico's refusal to agree blocked the proposed accord

OPEC+ debates biggest-ever oil cut as Covid-19 pandemic crushes demand

The oil market was dealt a heavy blow by the freefall in demand due to the coronavirus pandemic

Crude oil down 30% as Saudi, Russia fail to reach deal over supply cuts

On Monday, Saudi Arabia reduced oil prices and offered to increase production, triggering a price war among oil-producing countries

Will OPEC and allies be able to convince Russia for biggest oil cut?

According to the plan drawn up by OPEC, allies in the so-called OPEC+ grouping -- Russia foremost among them -- would take on 500,000 barrels of the cuts

As prices dip, OPEC backs biggest oil cut since 2008 financial crisis

Oil demand growth forecasts for 2020 have been slashed because of global measures to halt the spread of the virus

Coronavirus scare: OPEC backs biggest oil production cut since 2008 crisis

Russia and Kazakhstan, both members of the broader and informal group known as OPEC+, said they had not yet agreed to a deeper cut

Oil price rises on hopes of OPEC cut extension, US-China trade talks

The Wall Street Journal also reported on Thursday that China had invited top U.S. trade negotiators for a new round of talks in Beijing, citing unnamed sources.

Oil prices rise on expectations of more output cuts by Opec amid trade row

International benchmark Brent crude futures, were at $57.61 a barrel by 0009 GMT, up 23 cents, or 0.4%, from their previous settlement

Putin says Russia and Saudi Arabia will maintain oil cuts for 6-9 months

The current version of the deal by the so-called Opec+ coalition calls for production cuts of 1.2 million barrels a day

UAE to continue oil supply cuts till market is re-balanced: Energy minister

Opec along with major non-Opec producers such as Russia have pledged to reduce their oil production to cut into a supply glut

OPEC revises down forecast for 2019 crude oil demand on global slowdown

OPEC said demand for its crude would fall to 30.59 million barrels per day, 240,000 bpd less than predicted last month