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 Thursday, November 23, 2017
 
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Saudis eye oil sales to world's biggest plants emerging in China
World Oil Online • Bloomberg News
Oil extends rally above $58 as Keystone outage cuts U.S. supply
World Oil Online • Robert Tuttle
Venezuela’s state oil producer to cut costs by 50%
World Oil Online • Fabiola Zerpa, Patricia Laya
Freight rates surge on commodity boom
Business Standard • Rajesh Bhayani
Vedanta oil and gas projects pick up as crude price rises
Business Standard • Jyoti Mukul
Is Trouble Brewing In The Permian?
OilPrice.com Daily News Update • Irina Slav
Oil Production Cuts Taking A Toll On Russia’s Economy
OilPrice.com Daily News Update • Tsvetana Paraskova
Aramco In Talks With Chinese Petrochemical Producers
OilPrice.com Daily News Update • Irina Slav
3 Big Predictions For 2018
Seeking Alpha • James Cordier
US oil hits two-year high on pipeline outage, lower inventories
Moneycontrol Latest News
 
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Oil & Gas, Organization of the Petroleum Exporting Countries
Saudis eye oil sales to world's biggest plants emerging in China
World Oil OnlineBloomberg News
BEIJING and SHANGHAI (Bloomberg) -- Saudi Arabia’s status as the biggest oil supplier to China has been usurped by Russia. OPEC’s biggest producer is now trying to regain ground in the world’s largest crude importer. State-run Saudi Arabian Oil Co., known as...
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Crude Oil, Oil & Gas
Oil extends rally above $58 as Keystone outage cuts U.S. supply
World Oil OnlineRobert Tuttle
CALGARY (Bloomberg) -- Oil extended its rally above $58/bbl as supply disruptions on the Keystone pipeline added to optimism that the U.S. glut is waning and that OPEC will prolong its output curbs. Futures gained as much as 0.7% in New York...
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Credit Cards, Credit Services
Venezuela’s state oil producer to cut costs by 50%
World Oil OnlineFabiola Zerpa, Patricia Laya
WASHINGTON (Bloomberg) - Already in default and struggling with sinking oil production, Venezuela’s state-run energy firm told its employees to cut costs and expenses by 50% in an austerity drive to reflect the broader economic crisis hitting the OPEC nation of 30...
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Coal Industry, Crude Oil
Freight rates surge on commodity boom
Business StandardRajesh Bhayani
Shipping freight rates are rising on the back of the commodity boom. The Baltic dry bulk, tanker segment, and other freight indices are rising fast for the past few months, following good demand in India, China, the Atlantic market, and the Gulf...
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Oil & Gas, Oil Prices
Vedanta oil and gas projects pick up as crude price rises
Business StandardJyoti Mukul
The recent spurt in global crude oil prices has resulted in Vedanta, the metals and mining major, putting its development and exploration projects on a fast track but issues of cess and higher profit petroleum continue to be a concern. Indian benchmark...
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Oil & Gas, Oil Prices
Is Trouble Brewing In The Permian?
OilPrice.com Daily News UpdateIrina Slav
The Permian shale play has been attracting so much attention lately it’s started to get a little bit boring. But not for oil investors. The rush to the Permian has continued as everyone forecasts growing production there. The projections suggest strong growth—doubling...
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Economic Policy, Finance
Oil Production Cuts Taking A Toll On Russia’s Economy
OilPrice.com Daily News UpdateTsvetana Paraskova
The OPEC/non-OPEC production cuts hurt Russia’s economic growth in October, Economy Minister Maxim Oreshkin said on Thursday in the first negative comment about the pact from a high-ranking Russian official. “Because of the OPEC deal we have a negative direct impact from...
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Oil & Gas, Oil Prices
Aramco In Talks With Chinese Petrochemical Producers
OilPrice.com Daily News UpdateIrina Slav
Aramco is in talks with Chinese petrochemical producers that are building new plants to supply them with crude, a company vice-president told Bloomberg. The talks are part of Saudi Arabia’s efforts to gain more exposure to refining and petrochemicals and reduce its...
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Electric Vehicles, Finance
3 Big Predictions For 2018
Seeking AlphaJames Cordier
Audio Transcript Michael: Hello everybody. This is Michael Gross of OptionSellers.com here with your November Podcast. We have a lot to talk about this month, so we're going to go ahead and jump right into it. The title of this month's podcast...
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Crude Oil, Oil & Gas
US oil hits two-year high on pipeline outage, lower inventories
Moneycontrol Latest News
US crude hit a two-year high in thin trade on Thursday as the shutdown of a major crude pipeline from Canada and a draw on fuel inventories pointed to a tightening market, despite rising output from US producers. US crude was up...
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