Oil prices surge as OPEC reaches production dealVIENNA Russian President Vladimir Putin played a crucial role in helping OPEC rivals Iran and Saudi Arabia set aside differences to forge the cartel"s first deal with non-OPEC Russia in 15 years.Interventions ahead of Wednesday"s OPEC meeting came at key moments from Putin, Saudi Deputy Crown Prince Mohammed bin Salman and Iran"s Supreme Leader Ayatollah Ali Khamenei and President...
Showing posts with label OPEC. Show all posts
Showing posts with label OPEC. Show all posts
Thursday, December 1, 2016
Wednesday, November 30, 2016
Leaner and meaner: US shale greater threat to OPEC after oil price war
Oil prices surge worldwide as OPEC hashes out a deal to cut production | Manorama NewsIn a corner of the prolific Bakken shale play in North Dakota, oil companies can now pump crude at a price almost as low as that enjoyed by OPEC giants Iran and Iraq. Until a few years ago it was unprofitable to produce oil from shale in the United States. The steep slide in costs could encourage more U.S. shale output if OPEC members...
Oil soars on OPEC hopes, dollar renews its surge
Saudi Arabia faces resistance to oil cuts, inside and outside OPEC By Richard Leong | NEW YORK NEW YORK Oil jumped on Wednesday as OPEC members clinched a deal to cut production, while upbeat U.S. economic data and comments from the U.S. Treasury Secretary nominee triggered a selloff in the bond market.Higher crude prices bolstered shares of energy producers and stock prices around the world, with the Dow...
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