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THE Organisation of Petroleum Exporting Countries, OPEC, has adopted measures, targeted at preventing the spread of Coronavirus read more...
OPEC ministers to meet in Vienna to face coronavirus threat to oil demand
OPEC and its allies will consider making substantial oil production cuts to lift prices that have been battered by the coronavirus outbreak, Algeria's oil minister said on Tuesday, as ministers began arriving for talks in Vienna this week.
The meeting comes in the backdrop of Opec slashing the global oil demand growth by 0.99 mbpd in 2020.WHO has upgraded the global risk of the coronavirus outbreak to 'very high'
NEW YORK: The global oil benchmark ended Tuesday slightly lower under pressure from falling equities, but the losses were contained slightly as top producers considered more output cuts to support prices and the Federal Reserve cut U.S. interest rates to support the economy.
The energy alliance between Saudi Arabia and Russia will likely come under intense scrutiny at this week's OPEC meeting as the producers discuss how best to cushion the impact of the coronavirus outbreak.
The energy alliance between Saudi Arabia and Russia will likely come under intense scrutiny at this week's OPEC meeting as the producers discuss how best to cushion the impact of the coronavirus outbreak.
Saudi Arabia and other OPEC members will seek to persuade Russia on Wednesday to join them in large additional oil output cuts to prop up prices which have tumbled by a fifth this year because of the coronavirus outbreak.
When OPEC ministers descend on Vienna to decide oil production policy, their mee...
A panel of OPEC and its allies recommended cutting oil output by an extra 1 million barrels per day (bpd) on Tuesday signaling that Russia and Saudi Arabia were moving closer to a deal to prop up prices which have been hit by the coronavirus outbreak. Saudi Arabia and some other OPEC members have been
When OPEC ministers descend on Vienna to decide oil production policy, their meetings are usually accompanied by displays of brotherhood between the men in charge of a third of global crude supplies. This time, as the world battles a coronavirus outbreak, they have been given strict instructions: no
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Oil lower on coronavirus fears despite Fed rate cut and hopes for OPEC+ output cut
When OPEC ministers descend on Vienna to decide oil production policy, their meetings are usually accompanied by displays of brotherhood between the men in charge of a third of global crude supplies.
The effects of the virus on global demand, particularly in worst-hit China, has blown a hole through the group's attempt to support prices at its last meeting in December by agreeing on production cuts.
THE Organisation of Petroleum Exporting Countries, OPEC, has adopted measures, targeted at preventing the spread of Coronavirus
Iranian Minister of Petroleum Bijan Zangeneh speaks to reporters ahead of OPEC's meeting in Vienna.
The meeting of the 14-member group OPEC and 10 non-member allies, known collectively as OPEC+, is taking place in Vienna, Austria.
The Organisation of Petroleum Exporting Countries, OPEC, has adopted measures, targeted at preventing the spread of Coronavirus, as the 178th Extraordinary Meeting of OPEC Conference and the 8th OPEC and non-OPEC Ministerial Meeting open in Vienna, Austria.
OPEC's top producer Saudi Arabia is pushing for a big cut, but non-OPEC leader Russia doesn't appear to be supporting this effort.
OPEC is hoping to slash the supply of crude oil to world markets by 1.5 million barrels per day in an attempt to prop up prices as it confronts the biggest collapse in demand on record.
OPEC members are calling for a reduction in oil production around the world to counter dropping prices thought to be a result of the global coronavirus outbreak.The Associated Press reported that a proposal from OPEC members set to be considered Friday calls for steep cuts to oil production from non-member states, including Russia, with a number of other nations already reportedly on board.Russia appeared to be the main obstacle to reaching an...