Analyst: OPEC cut historic, drop in demand greater

Oil prices rose slightly after OPEC and other oil producers agreed to cut production by nearly 10 million barrels a day. Analysts say the cuts are not enough to make up for the void in demand due to the coronavirus pandemic. (April 13)

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AP Top Stories April 10 A

Here’s the latest for Friday, April 10th: President Donald Trump predicts ‘sunny skies’ ahead for US economy; Italy reports drop in intensive care cases; OPEC oil production proposal awaits Mexican; Easter masses go online amid coronavirus outbreak.

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rump says Saudis, Russians ‘getting close’ to oil production deal | AFP

US President Donald Trump tells reporters at the White House that he just spoke with Russia and Saudi Arabia about oil production and OPEC, and says they are “getting close to a deal.” IMAGES

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Protesters gather ahead of OPEC meet in Vienna | AFP

Climate activists gather outside the OPEC headquarters in Vienna ahead of a meeting of the group. Faced with slowing global economic growth and abundant reserves putting pressure on oil prices, the OPEC group and its partners could seek to deepen output cuts when they meet in the Austrian capital. IMAGES

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OPEC members and partners meet in Azerbaijan

Members of the Organization of the Petroleum Exporting Countries (OPEC) and Russia-led allied nations meet in Azerbaijan to consider strengthening an alliance that has helped bring down the price of oil. The alliance — dubbed OPEC+ and consisting of 10 non-OPEC producers and 14 members of OPEC — has endured, with regular meetings and agreements to maintain production limits. IMAGES of the OPEC+ meeting in Baku, Azerbaijan

KeiserReport: NOPEC, at long last? (E1348)

In this episode of the Keiser Report, Max and Stacy discuss the latest attempts at NOPEC as the House Judiciary Committee passes a bill that would allow the US Justice Department to sue members of OPEC for manipulating the oil market. This sort of legislation has been tried many times in the past, but could hatred for Trump finally drive the nail in the cartel coffin? In the second half, Max interviews Mitch Feierstein of PlanetPonzi.com about the Fed admitting that quantitative easing is a permanent policy tool and not just for “emergencies.” With this permanent QE context in mind, they discuss the meaning of central banks buying the most gold in half a century and what sort of monetary situation may be in store for the near future? They also look at Italy’s debt and the new government’s plans to ‘seize’ the Central Bank of Italy’s gold horde.

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OPEC agrees to cut oil production despite US pressure

The Organization of the Petroleum Exporting Countries (#OPEC) and major #oil producers lead by Russia agree on Thursday on price-boosting output cuts. That’s despite #US pressure on OPEC to reduce the cost of crude.

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Russia & OPEC agree to extension of oil-cut supply

Major oil producers around the world have extended a production-cut deal. In an effort to re-balance the market, they will reduce output until the end of next year. The decision follows talks between Russia and OPEC members in Vienna.

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OPEC talks begin in Vienna

The 173rd Conference of Organization of the Petroleum Exporting Countries (OPEC) opens in Vienna. Oil producing nations inside and outside OPEC are expected to extend a deal keeping a lid on output in an attempt to push crude prices higher. IMAGES of roundtable talks

Oil bloc buried several times, but it emerged strong – Secretary-General of OPEC

As the price of oil hit a two-year high, industry giants are meeting in Vienna on November 30 to talk about keeping production low and prices high. Will sustaining close ties keep the good times rolling? Are we in for a crash if any deal falls through? We ask Secretary-General of OPEC Mohammad Barkindo.

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OPEC extends oil production cuts by 9 months

OPEC delegates have confirmed that the current oil-production cut will be extended for another nine months. Ilya Petrenko reports outside OPEC headquarters in the Austrian capital, Vienna.

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Historic deal: Non-OPEC countries agree to cut oil production by 558,000 barrels per day

Non-OPEC countries agreed to cut oil production by 558,000 barrels per day during a meeting with members of the Organization of Petroleum Exporting Countries (OPEC) in Vienna.

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OPEC reaches deal to cut production by 1.2 million barrels

The Organization of the Petroleum Exporting Countries (OPEC) has agreed to cut supply by 1.2 million barrels per day to 32.5 million barrels, the head of the organization announced.

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Saudi Arabia faces resistance to oil cuts, inside and outside OPEC

Ministers from the oil-producing cartel OPEC are set for another crucial meeting in Vienna to discuss whether or not to cut output. And leading member Saudi Arabia may struggle to convince certain key nations to reduce production.

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‘We are ready to freeze oil production’ – Putin on OPEC & oil output

Asked about Russia’s stance on limiting oil output, Putin reiterated that Moscow will support a decision to cap oil production.

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