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OPEC agrees to extend key oil output cut deal
May 26, 2017 01:32The Organization of the Petroleum Exporting Countries (OPEC) has agreed to extend until March 2018 an oil output cut deal that was sealed last year to help shore up prices.
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Riyadh says oil output cut may be extended
Apr 20, 2017 08:51Saudi Arabia says an agreement between world’s biggest oil producers to cut their production to help stabilize the market may have to be extended to ensure maximum results.
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OPEC 'optimistic' oil output cuts leading to price recovery
Apr 19, 2017 10:40Oil-exporting cartel OPEC is confident that production cuts agreed with non-members to prop up prices will lead to a recovery in the market, its chief said on Wednesday.
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Russia cuts oil output by 156,000 bpd for OPEC deal
Mar 11, 2017 16:14Russia says it has cut oil output by 156,000 barrels per day as part of a deal reached in December between members of the Organization of the Petroleum Exporting Countries (OPEC) and other countries to slash global production by nearly 1.8 million barrels per day for six months.
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Qatar, Kuwait companies to reduce production from beginning of 2017
Dec 13, 2016 12:00Oil companies in Qatar and Kuwait have announced that they will reduce production levels as of the beginning of 2017.
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OPEC, non-OPEC producers set for deal
Dec 10, 2016 11:22The Organization of the Petroleum Exporting Countries (OPEC) is expected to clinch a deal with non-OPEC producers to reduce oil output.
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OPEC member states must work for stable oil market: President Rouhani
Dec 09, 2016 05:12President Hassan Rouhani says all member states of the Organization of the Petroleum Exporting Countries (OPEC) must make joint efforts to stabilize the global oil market and reverse a slump in prices following their landmark supply-cut deal.
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Russia to attend OPEC/non-OPEC meeting on output cuts
Dec 06, 2016 11:25Russia says it will participate in a meeting of OPEC and non-OPEC members amid fluctuating oil prices over doubts about the outcome of a recent agreement to slash production.
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Iran’s oil output rose by 40k bpd in Nov.
Dec 06, 2016 09:44New indications have appeared showing that Iran continued to increase its production of crude oil last month.