Organization of the Petroleum Exporting Countries

Tag: Organization of the Petroleum Exporting Countries

Germany calls on OPEC to increase oil output

March 9, 2022

FRANKFURT, Germany (AFP) – German Economy Minister Robert Habeck on Tuesday issued an “urgent appeal” to OPEC oil producers to ramp up output following a spike in prices and supply fears due to the Ukraine crisis. Habeck called on top oil producing nations to “increase production in order to create relief on the market”. “That would be a contribution” to easing the stress on firms and households, he said at a Berlin press conference, adding […]

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Crude prices down as doubts over production freeze linger

February 23, 2016

SINGAPORE, Singapore (AFP) — Oil prices dipped in Asia Tuesday after mounting a strong rally the day before as traders remain doubtful that talks on an output freeze among key crude producers will lead to agreement. US crude rose back above $30 a barrel and European benchmark Brent climbed well over $34 on Monday on hopes that the discussions would lead to concrete action to stabilise the battered market. But at around 0600 GMT on Tuesday, US […]

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US crude rebounds in Asia but supply glut worries weigh

February 10, 2016

SINGAPORE, Singapore (AFP) — Oil prices rebounded on bargain-buying in Asia Wednesday after the previous day’s plunge but analysts warned any gains would be limited as the global glut that has hammered markets showed no sign of letting up. Investors are also nervously awaiting the release later in the day of a report on US stockpiles that is forecast to show a further increase in inventories. At around 0300 GMT, US benchmark West Texas Intermediate (WTI) […]

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