OPEC News

What is said and done by OPEC is widely regarded to have a direct impact on the price of oil in the world. This in turn has an impact on the US economy, and on consumers. It is not surprising, therefore, that so many people want to stay up-to-date with OPEC news through the daily digest service offered by Wiser. OPEC stands for the Organization of the Petroleum Exporting Countries and it represents the nations that dominate the export of oil. It was founded in 1960 by Iran, Iraq, Kuwait and Venezuela, but has since grown to comprise several other countries including Saudi Arabia, United Arab Emirates, Qatar and Libya. In 2014, there were 12 nations in OPEC and its members are thought to account for as much as 78 percent of the world's oil reserves. OPEC sets production targets for each of its member countries which effectively controls a significant proportion of world oil production and is used as a lever to control prices. Sign up today for the Wiser daily OPEC news email. It is a free digest delivered to your inbox containing articles on OPEC from around the web.

Recent OPEC News Coverage
 
Your Weekly Recommendations Wednesday, September 20, 2017
 
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Futures Movers: Crude prices rise on signs of drop in global inventories
MarketWatch
Oil rises after Iraq signals possible OPEC cut extension
CNBC • Essam Al-Sudani, Reuters
Crude Oil And Why The Correlation To The Dollar Is A Farce
Seeking Alpha • Chris B. Murphy
Fundamentals turn positive; crude oil may hit $55 level soon
The Economic Times of India • Harshal Barot
What's Driving the Turn of Events for Energy?
Forbes • Contributor Tortoise
New decision on oil production cut is 'premature' - Iraqi minister
Zawya • Michael Fahy
Iraq says OPEC mulls deeper, longer oil cuts to end 2018
World Oil Online • Anthony Dipaola
Crude rises above $50/bbl on prospect of more OPEC action
World Oil Online • Ben Sharples, Grant Smith
US import prices post biggest gain in seven months
CNBC • Bloomberg, David Maung, Getty Images
Why should only petro consumers pay for infra projects: Jaipal Reddy
The Economic Times of India • Pti
 
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Crude Oil, Finance
Futures Movers: Crude prices rise on signs of drop in global inventories
MarketWatch
Oil prices advanced Wednesday amid ongoing optimism that production cuts have shown some success in bringing down global inventories. In New York Mercantile Exchange electronic trading, October West Texas Intermediate crude CLV7, +1.21% the U.S. benchmark, rose 54 cents, or 1.1%, to...
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Crude Oil, Energy Finance
Oil rises after Iraq signals possible OPEC cut extension
CNBCEssam Al-Sudani, Reuters
Oil prices rose on Wednesday after Iraq's oil minister said OPEC and other crude producers were considering extending or even deepening a supply cut to curb a global glut, while a report showed a smaller-than-expected increase in U.S. inventories. U.S. West Texas...
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Crude Oil, Currencies
Crude Oil And Why The Correlation To The Dollar Is A Farce
Seeking AlphaChris B. Murphy
Summary The theory states that a weaker dollar should make oil cheaper and lead to increases in buying of black gold. However, the theory breaks down more often than not. Instead, I offer an alternative to the dollar that's far more tightly...
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Crude Oil, Oil & Gas
Fundamentals turn positive; crude oil may hit $55 level soon
The Economic Times of IndiaHarshal Barot
Oil prices witnessed a strong rally last week as a few fundamental indicators turned positive. OPEC output declined last month along with a drop in its exports suggesting better compliance to output cuts. The monthly reports from both the OPEC and IEA...
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Crude Oil, Electric Vehicles
What's Driving the Turn of Events for Energy?
ForbesContributor Tortoise
What’s Driving the Turn of Events for Energy? Last week, Brent and WTI crude oil both reached price levels, not seen since spring. Industry reports and OPEC comments provids some insights.
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Energy Finance, Oil & Gas
New decision on oil production cut is 'premature' - Iraqi minister
ZawyaMichael Fahy
Iraq’s minister of oil, Jabbar Al Luebi, said it is too early for ministers from OPEC and participating non-OPEC countries to consider whether or not to extend production cuts that are in place to shore up oil prices beyond the current deadline...
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Oil & Gas, Organization of the Petroleum Exporting Countries
Iraq says OPEC mulls deeper, longer oil cuts to end 2018
World Oil OnlineAnthony Dipaola
DUBAI (Bloomberg) -- Iraq and some other oil producers taking part in global output cuts think they should reduce supply by an additional 1% to help re-balance the market, according to Iraqi Oil Minister Jabbar al-Luaibi. Some also favor extending cuts until...
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Oil & Gas, Organization of the Petroleum Exporting Countries
Crude rises above $50/bbl on prospect of more OPEC action
World Oil OnlineBen Sharples, Grant Smith
HONG KONG and LONDON (Bloomberg) -- Crude extended gains above $50/bbl in New York as the prospect of OPEC taking further steps to clear a global supply glut. WTI futures added 0.4%. Iraqi Oil Minister Jabbar al-Luaibi said there’s support within OPEC...
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Organization of the Petroleum Exporting Countries
US import prices post biggest gain in seven months
CNBCBloomberg, David Maung, Getty Images
U.S. import prices recorded their biggest increase in seven months in August as the cost of petroleum surged and there were also signs of a pickup in underlying imported inflation. The Labor Department said on Tuesday that import prices jumped 0.6 percent...
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Natural Gas, Oil & Gas
Why should only petro consumers pay for infra projects: Jaipal Reddy
The Economic Times of IndiaPti
Former oil minister S Jaipal Reddy has questioned the Centre's policy of utilising its revenues from petroleum products for infrastructure projects, saying the high prices of diesel and petrol are hitting the middle class hard. "Why should only the consumers of petroleum...
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