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Road to Net Zero

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Road to Net Zero

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Opec

Latest news from the body based in Vienna, regulating global oil production and pricing

Workers at a rig in the North Texas Barnett Shale bed rock deposit in Texas. Matt Nager / Bloomberg

Rival storylines duel in the global oil market

BusinessApril 24, 2017

Saudi Arabia's minister of energy Khalid Al Falih said his country approved of an extension to the deal. Christopher Pike / The National

BusinessApril 20, 2017

Saudi energy minister says oil deal may need to be extended but not necessarily for another six months

BusinessApril 20, 2017

The UAE’s energy minister, Suhail Al Mazrouei, said on Wednesday that the world oil market was showing consistent signs of correcting its enormous supply glut. Ravindranath K / The National

World oil inventories on a correction course, says Minister of Energy

BusinessApril 19, 2017

An offshore oil platform at the Bouri Oil Field off the coast of Libya. Crude will rally this year, big banks say. Darrin Zammit Lupi / Reuters

Oil to hit mid-$60 mark by end of year, Citi and Goldman say

BusinessApril 18, 2017

China market share battle intensifies despite oil deal

BusinessApril 17, 2017

Opec agreed last November that it would reduce output by 1.2 million barrels per day, to 32.5 million bpd, for an initial six-month period starting in January. Carlos Jasso / Reuters

Opec says March output cuts beat target – but Russia lags behind

BusinessApril 12, 2017

Robin Mills: Air strike on Syria does not affect oil but moves market

BusinessApril 09, 2017

The Venezuelan legislature’s refusal to approve oil joint ventures was a political flashpoint last week when the country’s supreme court move to seize power from it, a sign of how important oil is to the country’s flailing economy. Ensuing protests led the court to reverse its decision. The protesters’ signs above read ‘no to dictatorship’. Juan Barreto / AFP

Robin Mills: What’s bad for Venezuela could be good for the oil market

BusinessApril 02, 2017

BusinessMarch 27, 2017

Essam Al Marzouq, Kuwait’s oil minister, said that more had to be done to comply with the production cuts. Stephanie McGehee / Reuters

Oil output deal needs more compliance, Opec and non-Opec ministers say

BusinessMarch 26, 2017

Saudi says committed to oil market stability despite production increase in February

BusinessMarch 15, 2017

Saudi Arabia accounts for a little more than 10 per cent of world output, while Opec in total now accounts for about a third. Ryad Kramdi / AFP

Fuel for Thought blog: Saudi Arabia’s communication problem

The NationalMarch 15, 2017

The International Energy Agency expects demand this year to grow by 1.4 million barrels per day. Azad Lashkari / Reuters

IEA says slow progress in cutting oil glut should be no surprise

BusinessMarch 15, 2017

Above, an Aramco oil installation in the Saudi Arabian desert near Al Khurais. Marwan Naamani / AFP

Saudi Arabia tells Opec it raised output to 10 million bpd in February

BusinessMarch 14, 2017

Robin Mills: I’ll be back: oil’s price slump is tough to kill

BusinessMarch 12, 2017

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