Page 45 - Opec

OPEC pumps more oil after freeze talks fail, boosting surplus

The April output figure is OPEC's highest since at least 2008

Opec bids adieu to Saudi Arabia oil supremo

Saudi Arabian Oil Minister Ali al-Naimi, the architect of the 2014 switch in Organization of the Petroleum Exporting Countries (Opec) policy that's since roiled the energy market, companies and entire economies from Mexico to Nigeria, is leaving his post.An 80-year-old who rose from modest Bedouin roots, al-Naimi headed the ministry for almost 21 years, steering the world's largest crude exporter through wild price swings, regional wars, technological progress and the rise of climate change as a key policy concern."During my seven decades in the industry, I've seen oil at under $2 a barrel and $147, and much volatility in between," al-Naimi told a gathering of the who's who of the American oil industry in February in Houston."I've witnessed gluts and scarcity. I've seen multiple booms and busts."The departure of al-Naimi, who for years could move markets just by uttering a few words, is the latest sign of how the country's young Deputy Crown Prince Mohammed bin Salman is stamping his a

Shift in Saudi oil thinking deepens OPEC split

Events at Monday's meeting of OPEC governors suggest that if Saudi Arabia gets its way, then one of the group's central strategies - of managing global oil prices by regulating supply - will indeed go to the grave

More Opec

Give Opec more power and let Iran and Saudi bicker

OPEC, other nations fail to reach deal on production freeze

OPEC producers tell non-OPEC members that they needed to first reach a deal within OPEC

Saudi-Iran tension clouds oil freeze deal

Failure to reach a deal between OPEC and non-OPEC nations would signal resumption of a battle for market share and may halt a recent recovery in prices.

OPEC cuts 2016 oil demand growth forecast, warns of more

In its report, OPEC said that economic developments in Latin America and China are of concern

Julian Lee: OPEC's little helper from Iraq

The oil market rebalancing is underway - it's just not coming from where everybody thought it would