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OPEC Oil Prodcution Rises Most In 6 Months, Hits Highest Since December

Business & Finance : Zero Hedge

Well, so much for OPEC's production cut. In OPEC's latest Monthly Oil Market Report, the oil producing cartel reported that in May - the same month OPEC met to extend its production cuts - crude output climbed the most in six month,...

A Strange "Production Cut" - OPEC Oil Output Hits Record High As Rosneft Says "No" To Production Cap

Business & Finance : Zero Hedge

Something odd happened on the way to the recently "agreed upon" OPEC production cut: instead of cutting production, OPEC countries have seen their oil output surge, and according to an IEA reported released today, the oil producing ...

Goldman: Oil Glut To Return When OPEC Deal Expires

Business & Finance : Zero Hedge

Authored by Nick Cunningham via OilPrice.com, OPEC has agreed to extend its production cuts for another nine months in an effort to bring the oil market back into balance. Keeping in place the 1.2 million barrels per day (mb/d) of O...

Oil falls as OPEC prepares to extend output cuts

Business & Finance : Business Report

London - Oil prices fell on Thursday as OPEC ministers met to decide how long to extend oil production cuts in an attempt to drain a global glut that has depressed markets for almost three years. One OPEC delegate at the meeting in ...

World oil market 'close to balance' despite OPEC cuts: IEA

Local Interest / France : France 24

Supply and demand in the oil market are close to matching up, the IEA said Thursday, as landmark OPEC-led production cuts are mitigated by rising US supply and slipping worldwide demand growth. The compliance rate with the agreement...

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