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Oil gains amid push by Saudi Arabia for further supply cuts

Oil prices rose on Tuesday, as OPEC and its allies discuss whether to deepen a supply cut pact ahead of meetings this week, although prospects after Saudi Arabia's planned listing of Aramco fuelled uncertainty for traders, limiting gains......»»

Category: topSource: reutersDec 3rd, 2019

US To Remove Patriot Missile Protection From Saudi Arabia Amid Oilpocalypse

US To Remove Patriot Missile Protection From Saudi Arabia Amid Oilpocalypse Petrodollar panic? As tensions between OPEC (cough - the Saudis - cough) and Washington rise over the supply (and price) of oil glob.....»»

Category: blogSource: zerohedgeMay 7th, 2020

Oil prices rally as producers tackle supply glut

Output cuts, if all sides live up to the agreement, will end the price war between Russia and Saudi Arabia and eliminate 20 million crude barrels a day from a market that has been overwhelmed with supply......»»

Category: topSource: foxnewsApr 30th, 2020

Saudi energy minister says effective global oil cuts above 19 million bpd

Saudi Arabia's energy minister said on Monday that effective global oil supply cuts would amount to around 19.5 million barrels per day, taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves......»»

Category: topSource: reutersApr 13th, 2020

Saudi energy minister says effective global oil cuts at more than 19 million bpd

Saudi Arabia's energy minister said on Monday that effective global oil supply cuts would amount to about 19.5 million barrels per day taking into account the reduction pact agreed by OPEC+, pledges by other G20 nations and oil purchases into reserves......»»

Category: topSource: reutersApr 13th, 2020

Market Snapshot: Stock-index futures dragged lower while oil gains after historic agreement on output cuts

Stock-index futures quickly give up early gains Sunday evening, as oil gained following a historic agreement by major producers to curb production, ending a price war between Saudi Arabia and Russia......»»

Category: topSource: marketwatchApr 12th, 2020

Market Snapshot: Stock-index futures dragged lower as oil gains after historic agreement on output cuts

Stock-index futures quickly give up early gains Sunday evening, as oil gained following a historic agreement by major producers to curb production, ending a price war between Saudi Arabia and Russia......»»

Category: topSource: marketwatchApr 12th, 2020

Market Snapshot: Stock-index futures dragged lower as oil stumbles after historic agreement on output cuts

Stock-index futures quickly give up early gains Sunday evening, as oil proved unable to get a lift from a historic agreement by major producers to curb production, ending a price war between Saudi Arabia and Russia......»»

Category: topSource: marketwatchApr 12th, 2020

Saudi energy minister says OPEC+ effective oil cuts are 12.5 million bpd

The Saudi energy minister said on Sunday that effective oil supply cuts by OPEC and its allies, a group known as OPEC+, will amount to 12.5 million barrels per day, because of higher output in April from Saudi Arabia, the United Arab Emirates and Kuwait......»»

Category: topSource: reutersApr 12th, 2020

Saudi, others resist Mexican plan to make small oil output cuts - sources

Saudi Arabia and other oil producers in the OPEC+ group pushed back on Friday on a Mexican plan to cut less than requested under plans for global supply curbs, two sources from the OPEC+ group said on Friday......»»

Category: topSource: reutersApr 10th, 2020

Saudi, Russia seek to finalise oil cuts in G20 talks, want U.S. involved

Saudi Arabia, Russia and their allies will press Mexico on Friday to join an accord for collective oil production cuts equivalent to 10% of global supplies and will push the United States and other producers to remove a further 5%......»»

Category: topSource: reutersApr 10th, 2020

Saudi energy minister says OPEC+ oil pact hinges on Mexico joining

Saudi Arabia's energy minister said on Friday that a final OPEC+ oil supply pact to reduce 10 million barrels per day (bpd), which was agreed on Thursday, hinges on Mexico joining in the cuts......»»

Category: topSource: reutersApr 10th, 2020

Oil climbs as Saudi Arabia, Russia reportedly agree to output cuts

WTI crude had plunged 60 percent from its Jan. 6 peak through Wednesday as the price war between Russia and Saudi Arabia exacerbated a supply glut while the COVID-19 pandemic crushed demand......»»

Category: topSource: foxnewsApr 9th, 2020

Oilfield firm Halliburton cuts more US jobs as oil bust deepens

Oilfield services firm Halliburton on Monday was cutting about 350 employees in Oklahoma, according to a filing with the state, amid a deepening oil bust from the spread of coronavirus and a price war between Russia and Saudi Arabia......»»

Category: topSource: foxnewsApr 6th, 2020

Trump touts "great" Saudi-Russia oil deal to halt price rout, but details unclear

U.S. President Donald Trump said on Thursday he had brokered a deal with top crude producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid the global coronavirus pandemic, though details of how cuts would work were unclear......»»

Category: topSource: reutersApr 2nd, 2020

Dow closes more than 450 points higher on hopes of Russian-Saudi oil output cuts

Stocks closed higher on Thursday amid hopes that Saudi Arabia and Russia will curtail oil production, providing stability to energy markets roiled by the price war between the two crude exporters. The.....»»

Category: topSource: marketwatchApr 2nd, 2020

Trump says he brokered deal with Saudi, Russia for huge oil cuts

U.S President Donald Trump said on Thursday he had brokered a deal with top oil producers Russia and Saudi Arabia to cut output and arrest an oil price rout amid a global coronavirus pandemic, sending crude prices up by 45%......»»

Category: topSource: reutersApr 2nd, 2020

Saudi wants cooperation to bolster oil, blames Russia for turmoil: Gulf source

Saudi Arabia supports cooperation between oil producers to stabilize the oil market but Russia's opposition to a proposal last month to deepen oil supply cuts has caused market turmoil, a senior Gulf source familiar with Saudi thinking told Reuters......»»

Category: topSource: reutersApr 2nd, 2020

Ten signs the oil industry is bent out of shape

The oil industry has been hit by a simultaneous demand and supply shock in March as the coronavirus pandemic cuts fuel consumption and top producer Saudi Arabia raises output to full capacity to fight a price war with rivals......»»

Category: topSource: reutersMar 26th, 2020

Futures Movers: Oil prices end higher as move toward U.S. stimulus package fuels optimism

Oil futures end higher Wednesday, giving up earlier declines as optimism surrounding the $2 trillion U.S. stimulus package eventually helped to calm worries about growing supply amid a price war between Saudi Arabia and Russia......»»

Category: topSource: marketwatchMar 25th, 2020

Futures Movers: Oil retreats as supply fears outweigh U.S. stimulus package

Oil futures trade lower Wednesday, with worries about growing supply amid a price war between Saudi Arabia and Russia outweighing support from an agreement on a $2 trillion U.S. stimulus program......»»

Category: topSource: marketwatchMar 25th, 2020