OPEC Announces Production Cuts
The Organization of Petroleum Exporting Countries (OPEC) and Russia announced yesterday that they would be cutting back daily oil production to the tune of about two million barrels per day to [...]
Oil: The Storm Before the Really Big Storm
West Texas Intermediate, the oil grade most associated with American production, plunged down to -$40 April 20. You read the right. For a while yesterday, sellers had to pay people forty bucks to [...]
OPEC Production Deal, or Price War 2.0?
After the better part of five days of marathon negotiations spearheaded by Saudi Arabia with the goal of eliminating coronavirus-induced overhang in oil supply, global oil producers hammered out [...]
Breaking News – OPEC dissolved as a meaningful organization at their Dec 4 summit.
Rather than adjusting OPEC’s production ceiling in an attempt to raise prices, or even generate a common policy to coordinate output, OPEC instead launched a production free-for-all. No longer [...]
