Tag: Organization of the Petroleum Exporting Countries

OPEC to Keep Propping Up Oil Prices by Extending Production Cuts Into ’20

VIENNA — OPEC nations on Monday agreed to continue their production cuts until early next year, papering over their differences in order to continue an effort that analysts say is propping up prices while demand for oil is weakening. The cuts, by the Organization of the Petroleum Exporting Countries, equal about 1.2 million barrels a […]

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U.S. Oil Companies Find Energy Independence Isn’t So Profitable

HOUSTON — For decades, elected leaders and corporate executives have chased a dream of independence from unstable or unfriendly foreign oil producers. Mission accomplished: Oil companies are producing record amounts of crude oil and natural gas in the United States and have become major exporters. Yet the companies themselves are finding little to love about […]

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OPEC and Russia Seek to Support the Price of Oil

The Organization of the Petroleum Exporting Countries doesn’t stir as much fear in oil markets it once did, but it still has the power the shake up oil prices. On Monday, officials from OPEC and other oil producers including Russia will begin two days of meetings in Vienna. The producers are all but certain to […]

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