Output freeze

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Crude surges as non-OPEC producers agree oil output cut

December 12, 2016 12:57 AM
Crude oil prices surged a huge $3 dollars or 5% higher at the Asian open with Brent briefly trading north of $57 and WTI above $54 a barrel before pulling back slightly. Global stock index futures have correspondingly gapped higher with expectations that energy and other oil-related stocks will rise in tandem with crude prices when the exchanges ope...

It is all about OPEC today

November 30, 2016 12:48 PM
For obvious reasons, all the focus is on the OPEC meeting. As we pointed out the possibility yesterday, oil prices have bounced back very strongly today on renewed hopes that oil ministers will, after all, be able to hammer out a deal later on to limit crude production. Brent was up a good 8% at the time of this writing. No official announcement has...

OPEC preview: will Iran call Saudi’s bluff?

November 29, 2016 6:38 PM
Lots of headlines have come out ahead of tomorrow’s much-anticipated OPEC meeting. They have been largely oil-negative with Iran in particular being very vocal, saying that it won’t reduce its output and at the same time demanding that Saudi Arabia should shoulder most of the responsibility. Iraq, too, wants to be except from production cuts. We hav...