Oil extended its longest run of daily gains in 17 months on renewed efforts by the U.S. and China to reach a trade deal, and expectations the market will be tightened by OPEC鈥檚 output cuts.
January 8, 2019OPEC News Updates
Track critical developments in OPEC policy with Transport Topics' expert analysis. From oil production decisions to fuel pricing impacts, our coverage explains how the Organization of the Petroleum Exporting Countries influences trucking operations, supply chain costs and energy strategies across the global transport sector.
Oil Set for Longest Gain in 17 Months on US Economy, OPEC Cuts
Oil headed for its longest stretch of daily gains in more than 17 months as the U.S. Federal Reserve sought to ease investor concerns, China moved to stimulate its economy and OPEC production cutbacks took effect.
January 7, 2019OPEC Considers 2019 Oil Production Cuts in Yet Another U-Turn
The wind changed again in a stormy oil market as OPEC signaled it will consider a return to cutting output next year, potentially making the second production U-turn this year.
November 8, 2018Trump Presses OPEC to Reduce Prices as Crude Trades Near $80
President Donald Trump resumed his criticism of OPEC, saying on Twitter that the cartel 鈥渕ust get prices down now!鈥
September 20, 2018OPEC Sees Rival Supplies Growing Most in Five Years in 2019
OPEC expects supplies from its rivals to increase by the most in five years in 2019, with extra oil from the United States alone sufficient to meet the growth in global demand.
July 11, 2018Explosion Occurs in Pipeline to Libya鈥檚 Biggest Oil Terminal
Libya鈥檚 oil industry revival suffered a setback Tuesday after an explosion at a pipeline carrying crude to the OPEC nation鈥檚 biggest export terminal. Oil rallied.
December 26, 2017Oil Climbs as OPEC Tightening Dovetails With US Supply Drop
Crude rallied as lower OPEC production and signs of shrinking U.S. oil inventories bolstered expectations for an end to the global surplus.
December 5, 2017Oil Climbs to Two-Year High as Stockpiles Fall Before OPEC Meets
Oil climbed to a two-year high as U.S. industry data showed crude stockpiles resumed declines and investors awaited a decision by OPEC on extending output cuts.
November 22, 2017Oil Set for Weekly Rise Amid Optimism on Re-Balancing Process
Oil climbed Oct. 13 as dwindling U.S. crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding.
October 13, 2017Oil Dips as Recent Rebound Seen Lending to Global Output Rise
Oil dropped as OPEC鈥檚 production increased last month, at a time when U.S. drillers are also ramping up.
October 2, 2017Trending
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