OPEC agreed on Wednesday (28 September) to freeze its output for the first time since 2008 after Saudi Arabia had changed its mind amidst pressure
Category: Oil
Market Update: Oil Output Freeze Looming Over
The OPEC’s Secretary General said yesterday (20 September) that a possible deal aiming to prop up oil prices could last for one year. The cartel
Naftogaz’s Gas Imports from Europe Threatened
The Charter of Naftogaz, the national oil and gas company of Ukraine, has been changed in violation of a contract with foreign creditors, a decision
Market Update: Global Investment in Energy Plummets
According to the World Energy Investment 2016 report of the International Energy Agency (IEA), the world’s investment in energy went down by 8 percent in
BP to Slash Investments in Medium-Term in Line with Industry Trends
BP – or British Petroleum – is not going to increase its annual investments at least till 2020, although it still expects to make nine
OPEC Forecast: Global Crude Glut to Continue in 2017
OPEC said on Monday (12 September) that global markets would remain oversupplied next year as prices will likely stay low due to the resilience in
Iran Reconsidering an Output Freeze as Production Stagnates
The new data has showed that Iran’s accelerating oil production has stalled in the past quarter as the country is struggling to meet its objectives
New Gas Discoveries Pump Up the Future of Southern Corridor
According to Azerbaijan, natural gas produced in the Absheron offshore gas field in the Caspian Sea could be exported to Europe through Southern Corridor (SGC).
Saudi Arabia and Russia Team Up to Help World’s Oil Markets
Saudi Arabia and Russia seized the opportunity given by a G20 summit and agreed that they would cooperate in global oil markets in the future.
Saudis Pondering an Output Freeze
Saudi Arabia is considering offloading a stake in the state-run producer Aramco after two years of an oil price war. This change comes as OPEC