OPEC Headlines

  • OPEC chatroom dead as Qatar crisis hurts Gulf oil cooperation

    DUBAI/LONDON (Reuters) - OPEC's most powerful internal alliance, bringing together the oil producer group's Gulf members, is disintegrating fast.

    www.reuters.com
  • Europe Rebounds From Chinese Rout After Stellar PMIs; US Closed For Holiday

    Nothing can keep the BTFD spirit at bay in Europe this Thanksgiving morning. Having started the session on the back-foot after the biggest Chinese stock market tumble in 17 months (the SHCOMP dropped -2.3%, most since June 2016) amid tighter liquidity conditions as a result of today's Thanksgiving holiday in the US and attempts by regulators to rein in asset management firms and the micro-loan market, the negative sentiment was short-lived however, a slew of blockbuster November Eurozone PMIs,...

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  • Russian minister says OPEC oil deal hurting domestic economy

    By Darya Korsunskaya and Vladimir SoldatkinMOSCOW, Nov 23 (Reuters) - Russia's economic growth in October was negatively affected by a global deal between...

    Mail Online
  • OPEC chatroom dead as Qatar crisis hurts Gulf oil cooperation

    By Rania El Gamal and Dmitry ZhdannikovDUBAI/LONDON, Nov 23 (Reuters) - OPEC's most powerful internal alliance, bringing together the oil producer group's ...

    Mail Online
  • All The Old World Systems Are Being Deliberately Torn Down

    Authored by Brandon Smith via Alt-Market.com, As we approach the holiday season many people turn to thoughts on tradition, heritage, principles, duty, honor and family. They consider the accomplishments and even the failures of the past and where we are headed in the future. For most of the year, the average American will keep their heads in the sands of monotony and decadence and distraction. But during this time, even in the midst of the consumption frenzy it has been molded into, people tend...

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  • The Cardinal Sin Of International Finance

    Authored by Nick Giambruno via InternationalMan.com, As Doug Casey has correctly noted, the prime directive of any organism - whether it’s an amoeba or a person or a corporation or a government - is to survive. That’s why the US government protects the petrodollar so zealously. It needs the system to survive. Why Everyone Uses the US Dollar… for Now In the 1970s, the US government struck a series of deals with Saudi Arabia, creating the petrodollar system. The US promised to coddle and protect...

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  • OPEC ministers say oil market finding balance

    By Alexandra Alper and Marianna ParragaNov 22 (Reuters) - Two OPEC members said the group's supply cuts are bringing world supply into balance, as ministers...

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  • WTI/RBOB Slide After Smaller Than Expected Crude Draw, New Record High Production

    With WTI at its highest since July 2015, vol at 8mo lows, and the front-end flipped into backwardation for the first time since Nov 2014, it appears a lot of hope is priced into continued equlilibration (and OPEC). Last night's API (crude draw) provided some more confirmation but this morning's DOE data disappointed with a smaller than expected crude draw, and production rose once again to a new record high. “Domestic production is going to be the big nugget that everybody will be racing to see,...

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  • Saudis push for nine-month extension of OPEC-led oil cut

    By Rania El Gamal and Alex LawlerDUBAI/LONDON, Nov 22 (Reuters) - Top crude exporter Saudi Arabia is lobbying oil ministers to agree next week on a ...

    Mail Online
  • Oil Price Drop Imminent If Moscow Says "No" To Extension

    Authored by Irina Slav via OlPrice.com, As the November 30 meeting in Vienna of OPEC and its partners in the oil production cut deal nears, worry has returned among traders: one of the brokers of the deal might decide to walk out on the deal instead of participating in another extension. We’re talking about Russia, the world’s top producer and exporter, who many believe played OPEC and specifically its leader, Saudi Arabia, by agreeing to a relatively minor production cut from its nearly...

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  • Oil prices firm on expected OPEC cut extension, U.S. crude stock draw

    By Henning GloysteinSINGAPORE, Nov 22 (Reuters) - Oil prices climbed on Wednesday after a reported fall in U.S. crude inventories and on expectations that...

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  • Oil prices firm on expected OPEC cut extension

    By Henning GloysteinSINGAPORE, Nov 22 (Reuters) - Oil prices firmed on Wednesday after a reported fall in U.S. crude inventories and on expectations that...

    Mail Online
  • WTI Tops $57 After Biggest Crude Draw In 3 Months

    WTI/RBOB bounced today in anticipation of a reversal of the last two week's builds in crude inventories, and bulls were not disappointed by the API print.  Jan '18 WTI pushed above $57 but RBOB fell after a big crude draw (though gasoline build). “It looks like we are going to get a draw in crude oil inventories. That’s somewhat supportive,” John Kilduff, a partner at Again Capital LLC, a New York-based hedge fund, said by phone. Investors are also “looking ahead to the OPEC meeting, and...

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  • Bankrupt Venezuela Is Demanding Oil From JV Partners Without Payment

    Now that Venezuela, and its state-owned petroleum company PDVSA, were both officially declared in default on their debt by ISDA last Friday, analysts were closely watching what the insolvent Maduro government would do next, now that it is - at least on paper - isolated from most international capital markets (with the occasional loophole when it comes to Chinese and Russian funds). We didn't have long to wait, and as Reuters reports, a cash-strapped, and bankrupt, PDVSA has resorted to siphoning...

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  • Frontrunning: November 21

    U.S. sues to stop AT&T buying Time Warner, says would hike rates (Reuters) Merkel Tells Her Rivals: Back Me or Face Voters (BBG) German Turmoil Threatens Europe (WSJ) European Giants Are Making a Bad Month Worse for Stock Market (BBG) Taylor Swift Is Building a Wall (VF) Balance of Power: Putin Reaches for Prize with Syrian Victory (BBG) Iran's president declares end of Islamic State (Reuters) At the Riyadh Ritz, Detained Saudis Negotiate for Freedom (WSJ) Iraq Is Giving OPEC a Big Headache...

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  • Bonds, Futures, Global Stocks All Rise, Boosted By "Germany's Brexit Moment"; TSY Curve Collapse Continues

    S&P 500 futures are higher, continuing on yesterday's momentum, after European and Asian shares also rose alongside a rebound in oil, as the year-end performance chase appears to be accelerating. There were several different moving parts in a mixed European session, in which early Euro strength gave way to weakness... ... which in turn pushed the Stoxx 600 and US index futures higher, rising above yesterday's session high on negligible volumes.  Global equity futures rallied with Hang...

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  • Oil prices steady as rising U.S. output undermines OPEC cuts

    By Henning GloysteinSINGAPORE, Nov 21 (Reuters) - Oil prices were little changed on Tuesday as the impact from expectations of an extended OPEC-led...

    Mail Online
  • Oil steady as rising U.S. output undermines OPEC cuts

    By Henning GloysteinSINGAPORE, Nov 21 (Reuters) - Oil prices were little changed on Tuesday as expectations of an extended OPEC-led production cut were...

    Mail Online
  • Asia set to open higher, following US gains overnight

    Futures pointed to higher opens in Australia and Japan, while the dollar advanced against a basket of currencies.

    CNBC
  • Venezuela's Default Disaster

    Authored by Daniel Lacalle via The Mises Institute, Socialism always promises heaven and gives hell... In the early hours of Thursday, November 2, the Maduro regime certified its latest failure with what they promised would never happen: technical default. With his usual arrogance, Maduro issued a “decree” demanding “the refinancing and restructuring of the debt as of November 3.” That is, default. The bad news for investors or high-yield hunters is that the likelihood of being swindled again...

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  • What German Political Turmoil? Global Markets BTFD, Don't Look Back

    US index futures are unchanged, having recovered virtually all overnight session losses alongside the EURUSD following Merkel's failure to form a government, while European shares rise despite Angela Merkel's failure to form a new government. In the span of just hours, the goalseeked "hot take" consensus was that Germany’s collapsed coalition talks aren’t expected be a deal breaker for European equities due to the "strength of the German economy." As we pointed out earlier, the euro reversed...

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  • Iran says majority of OPEC members support extending oil output cuts

    LONDON, Nov 20 (Reuters) - Iran's oil minister said on Monday that a majority of OPEC members support extending output cuts but a final decision will be...

    Mail Online
  • Iran says majority of OPEC members support extending oil production cuts -ISNA

    LONDON, Nov 20 (Reuters) - Iran's oil minister said on Monday that the majority of OPEC members support extending a plan to cut production but a final...

    Mail Online
  • On The West's Demise To The Sidelines Of History...

    Authored by Seth Lievense via Limpidus.org, The world is changing, but the west is clinging on to a unipolar vision of the world that has passed. It’s attempts to discard this changing reality in exchange for a western worldview expressed in their politics and media are so ungrounded, it’s comical as it is dangerous. This western bubble of reality laid down before the wests general public seems to hold up for now, although fragile and less and less by the day. Really, Russia again? Outside this...

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