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Tag Archives: OPEC

Oil prices hit by downward revision to global oil demand

global oil production

LONDON (AP) — Oil prices took a pounding Tuesday after a leading industry group said global oil demand growth is slowing by more than previously thought, largely because of a more pronounced economic slowdown during the third quarter of the year. In its September oil market report, the Paris-based International Energy Agency reduced its forecast for global demand growth to ...

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OPEC oil ministers to meet informally in September

OPEC

VIENNA (AP) — OPEC has announced that oil ministers of the 14-nation organization will meet in September, well ahead of their previously scheduled November meeting. Monday’s announcement notes that the meeting will be “informal.” Still, it is unusual for the Organization of the Petroleum Exporting Countries to come together at the ministerial level outside of their regularly set gatherings. OPEC ...

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Top Eagle Ford news stories: May 27 – June 3

Eagle Ford news

Review the top Eagle Ford news stories, all in one place. Headlines this past week included details on the highest-paid CEOs in each state, OPEC’s inability to show resolve, and a new way to study energy production. 5. The highest-paid CEOs by state Here are the top-paid CEOs by state for 2015, as calculated by The Associated Press and Equilar, ...

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Energy sector movers, losers and news: crude prices improve, no production freeze necessary.

Last week major oil producers met in Doha, Qatar to discuss an oil production freeze. Again, no agreement could be reached and crude prices temporarily suffered. But, today WTI opened at $43.42 per barrel, 7.6 percent higher than last week when it closed Friday at $40.36 per barrel. Market Movers Shares of NGL Energy Partners LP (NYSE: NGL) gained 50 ...

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Kuwait oil workers go on strike to protest cutbacks

kuwait oil workers

KUWAIT CITY (AP) — Oil workers in Kuwait went on strike Sunday to protest proposed government cutbacks as the OPEC nation grapples with a prolonged slump in crude prices. Thousands of workers gathered for demonstrations at the start of the local workweek in the town of Ahmadi, where the state-run Kuwait Oil Co. has its headquarters, some 40 kilometers (25 ...

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