opec

As Cracks Emerge in Global Oil Pact, Saudis May Need to Compromise

As cracks emerge in global oil pact, Saudis may need to compromise By Rania El Gamal/Reuters Tough negotiations await a group of OPEC experts as they meet their counterparts from other oil producers such as Russia, on October 28-29 to hammer out details of an output-capping agreement, with disagreements threatening to scupper the deal. OPEC

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As Cracks Emerge in Global Oil Pact, Saudis May Need to Compromise

By Rania El Gamal DUBAI, Oct 27 – Tough negotiations await a group of OPEC experts as they meet their counterparts from other oil producers such as Russia on Oct. 28-29 to hammer out details of an output-capping agreement, with disagreements threatening to scupper the deal. OPEC agreed in Algeria last month on a modest

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OPEC, Key Producers to Discuss 6-month Oil Deal

By Rania El Gamal and Olesya Astakhova ISTANBUL, Oct 12 – OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Russia lent its support for the plan. Ministers from OPEC members embarked on a

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Oil Eases off Four-Month High as Speculators Doubt Deal to Cut Output

By Karolin Schaps LONDON, Oct 11- Oil eased off four-month highs on Monday as doubts over oil producers reaching a meaningful output cut deal brought some speculators to unwind bullish bets. Global benchmark Brent crude futures were down 23 cents at $51.70 a barrel at 0848 GMT, more than 2 percent lower than the four-month

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Putin says Russia Ready to Join OPEC Output Freeze

By Olesya Astakhova ISTANBUL, Oct 10  – Russia is ready to join a proposed cap on oil output by OPEC members, Russian President Vladimir Putin told an energy congress on Monday. Putin, speaking at an energy congress in the Turkish city of Istanbul, said that low oil prices have lead to underinvestment into the global

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Iran Signs First New Style Energy Contract with a Local Firm

By Parisa Hafezi ANKARA, Oct 4 – The National Iranian Oil Company (NIOC) on Tuesday signed a new style output contract with an Iranian firm, a long-awaited template for new contracts it hopes will attract foreign energy investors back to boost output after years of sanctions. “The first new model contract, the Iran Petroleum Contract

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Iranian President tells Venezuela Essential to Raise Oil Prices

DUBAI, Oct 4 – Iran’s President Hassan Rouhani told his Venezuelan counterpart Nicolás Maduro in a phone call that it was essential for oil producing countries to take a decision to raise the price of oil and stabilise the market, Iranian state news agency IRNA said. Iran and Venezuela are both members of the Organization

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Iraq’s OPEC Revolt shows Saudi-Iran Oil Deal Fragility

By Rania El Gamal and Alex Lawler ALGIERS, Sept 29 – For years, debates in the OPEC conference room were dominated by clashes between top producer Saudi Arabia and arch-rival Iran. But as the two managed to find a rare compromise on Wednesday – with Riyadh softening its stance towards Tehran – a third OPEC

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OPEC Set For No Deal on Oil Output as Saudis, Iran at Loggerheads

By Rania El Gamal, Alex Lawler and Vladimir Soldatkin ALGIERS, Sept 27 – Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as the group and non-member Russia were still trying to bridge differences between the kingdom and Tehran. “This is a consultative

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UAE says Backs Output Freeze to Support Oil Markets

By Alex Lawler and Rania El Gamal ALGIERS, Sept 26 – The United Arab Emirates said on Monday it would back a global freeze in oil output to bolster prices, while some OPEC delegates predicted a meeting of producing countries in Algeria this week could still yield a deal to restrain supply. Oil prices have

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