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Article on tag "OPEC"

Members of OPEC+ plan to further cut oil production
Members of OPEC+ plan to further cut oil production
(c) pexels

Members of OPEC+ plan to further cut oil production

The OPEC+ oil association was unable to agree on official production cuts at its meeting last Thursday. However, individual member states announced plans for cuts. In a joint statement after the meeting, the more than twenty OPEC+ states also announced that Brazil would join the production alliance at the beginning of next year.

OPEC Cuts Oil Production by 2m Barrels per Day, Sparking Criticism From the West
OPEC Cuts Oil Production by 2m Barrels per Day, Sparking Criticism From the West
(c) VLADIMIR SIMICEK / AFP / picturedesk.com

OPEC Cuts Oil Production by 2m Barrels per Day, Sparking Criticism From the West

Last Wednesday, the countries of the OPEC+ oil alliance decided on a comprehensive reduction in oil production. As early as November, 2 million barrels less per day will be produced. Many countries fear a rise in oil prices.

Continuing Oil Price Rally Leads to new Multi-Year Highs
Continuing Oil Price Rally Leads to new Multi-Year Highs
(c) unsplash

Continuing Oil Price Rally Leads to new Multi-Year Highs

Crude oil prices continued to soar in the past week. The background to the oil price increases lies in the rising demand for oil combined with the ongoing economic recovery and fears of tight supply. The price surge in recent days was triggered by a drop in oil reserves reported by the US government on Wednesday.

Hopes for upswing continue to drive oil and industrial metal prices higher
Hopes for upswing continue to drive oil and industrial metal prices higher
(c) unsplash

Hopes for upswing continue to drive oil and industrial metal prices higher

Hopes for an economic recovery, but also the latest inflation fears, have recently fuelled the price rally on the commodity markets, with prices for crude oil and industrial metals continuing to soar. Several metal prices recently rose to multi-year highs.

OPEC+ haggling over production restrictions at ongoing meeting
OPEC+ haggling over production restrictions at ongoing meeting
(c) unsplash

OPEC+ haggling over production restrictions at ongoing meeting

The eyes of the international business world are currently fixed on Vienna. At the OPEC headquarters in downtown Vienna, the oil cartel’s member states and its allies are currently haggling over production volumes, and thus the further development of oil prices, via video conference.

Easter weekend with a difference – Update from the Investment Division
Easter weekend with a difference – Update from the Investment Division
(c) unsplash

Easter weekend with a difference – Update from the Investment Division

What has occurred since last Friday ? This Easter weekend was quite different compared to other Easter weekends of the past. Even if our countries will be on the forefront to loosen the lock-down over the next months not much could be felt from any resurrection yet. At least the OPEC-countries and their allies including […]