OPEC optimistic on oil recovery

OPEC ministers were cautiously confident Wednesday, June 1, that the oil market is finally on the mend, cementing expectations that the cartel will keep crude gushing at a meeting in Vienna. Read more here.

OPEC sets no new output target

OPEC decided Thursday, June 2, to keep oil gushing after a moderate recovery in the crude eased the pressure to limit output, with Saudi Arabia saying the cartel is “very satisfied” with the market.  A final statement from the Organization of the Petroleum Exporting Countries after a meeting in Vienna made clear that the 13-nation…

OPEC: Oil glut to ease in 2017

OPEC said Friday, May 13, a global crude glut that has squeezed the market and sent prices plunging over the past year “may be easing” as a result of countries outside the oil producing cartel dropping their production.  Read more here.