ALGIERS OPEC's leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing U.S. President Donald Trump's calls for action to cool the market.
ALGIERS OPEC and other oil producers are discussing the possibility of raising output by 500,000 barrels per day (bpd) to counter falling supply from Iran because of U.S. sanctions, a source familiar with the discussions told Reuters.
DUBAI OPEC and its allies are unlikely to agree an official increase in crude output when they meet in Algeria this weekend, although pressure is mounting on top producers to prevent a spike in oil prices ahead of new U.S. sanctions on Iran, OPEC sources said.
DUBAI/LONDON An OPEC and non-OPEC technical committee will later this month discuss proposals for sharing out an oil-output increase, sources familiar with the matter said, a tense topic for the producer group after it decided in June to ease supply curbs.
DUBAI/LONDON Saudi Arabia wants oil to stay between $70 and $80 a barrel for now as the world's biggest crude exporter strikes a balance between maximizing revenue and keeping a lid on prices until U.S. congressional elections, OPEC and industry sources said.
DUBAI/ABU DHABI UAE-based Brooge Petroleum and Gas Investment Co (BPGIC) plans to raise $400 million (311.69 million pounds) in an initial public offering in London, which could be potentially launched before the end of this year, three sources familiar with the deal said.
DUBAI OPEC and non-OPEC oil producers will aim to formalize their long-term cooperation later this year by approving a charter that will make possible further joint action on output, according to a draft charter seen by Reuters.
* JV could help China replace Iran, U.S. oil imports, if
BEIJING/DUBAI Iraq's state oil marketer SOMO is close to a deal with China's state-run Zhenhua Oil to boost the OPEC member's crude oil sales to the world's top oil importer, four sources with knowledge of the matter said.