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To Stabilize the Oil Market, OPEC Refines Its Strategy - STRATFOR

OPEC's production cut is here to stay, at least for now. During a meeting in Vienna on May 25, major oil producers from around the world agreed to extend the measure, adopted in November 2016, for another nine months. The deal was hardly a surprise ...and more »

The future of oil jobs in the Middle East - Al Jazeera America

The Organisation of Petroleum Exporting Countries (OPEC) and 11 other oil-producing nations have extended oil production cuts until March 2018 in an attempt to drain the global oversupply of oil and prop up the price of crude. The [oil] industry is ...and more »

OPEC oil cut extension renews Asia's crude supply worries - Reuters

SINGAPORE (Reuters) - The OPEC-led decision to extend a production cut to March 2018 disappointed financial investors, prompting an exit from oil futures markets, while refiners in Asia were mostly concerned with whether it meant they would need to go ...and more »

Oil price tumbles after Opec deal; UK growth unexpectedly downgraded - as it happened - The Guardian

While New York's S&P 500 hit another record high, most continental bourses ended the day in the red. The FTSE 100 finished a little higher, though, partly due the pound weakening after this morning's poor GDP figures. European markets today. Photograph ...and more »

The oil glut could return once the OPEC deal expires - Business Insider

OPEC Secretary General Mohammad Barkindo listens during a news conference after a meeting of the Organization OPEC Secretary General Barkindo listens during a news conference after an OPEC meeting in Vienna Thomson Reuters OPEC extended its production ...and more »

OPEC back as 'swing producer' - Anadolu Agency

As OPEC extended its oil production cut, the cartel has retained its position as a "swing producer" in the global market, a leading oil analyst said Friday. "I think OPEC is actually back in business [but] as a swing producer," Daniel Yergin told CNBC ...and more »

5 reasons why oil could be headed higher - Business Insider

Oil worker Iraqi workers stand near a pipeline as it ejects oil at Al Tuba oil field in Basra, southeast of Baghdad REUTERS/Essam Al-Sudani Despite a recent bout with plunging prices, we believe the oil market should grind higher thanks to solid global ...and more »

OPEC decision stabilizes oil prices, but for how long? - CBC.ca

In one of the least surprising OPEC meetings in a while, members of the cartel of oil-exporting countries and their non-member allies agreed to extend oil production cuts on Thursday, which will support the price of oil and should continue to help pave ...and more »

Saudi Arabia and Russia stuck in unlikely oil alliance - Financial Times

An oil alliance between Saudi Arabia and Russia was once deemed unthinkable. Now a prolonged partnership looms in the face of their shared adversary — the oversupply created by the rise of the US shale industry. The two oil superpowers, which pump one ...and more »

Why OPEC Couldn't Move Oil Prices Higher - OilPrice.com

The latest OPEC meeting was uncharacteristically tranquil, with little of the eleventh hour infighting and arm-twisting that has been so prevalent in previous meetings. The cooperative spirit has allowed OPEC to roll over its production cuts for ...and more »