OPEC on Wednesday reached an understanding that a crude-oil-production cut is needed to lift petroleum prices, people familiar with the matter said, but the cartel will wait until November to finalize a plan to tackle a supply glut that has lasted longer than expected.The consensus was reached after a 4½ hour meeting in the Algerian capital. It represents the first acknowledgment from the Organization of the Petroleum Exporting Countries that it needed to take action to alleviate an oil-price slump that has wreaked havoc on the economies of oil producers. OPEC, the 14-nation cartel that controls over a third of world oil output, has been producing at record levels as its members compete among themselves for buyers.A person familiar with the matter said the cartel was considering cutting production to between 32.5 million barrels a day and 33 million barrels a day—down from August levels of 33.2 million barrels a day.
- Nuevo Midstream enters deal to buy Eagle Ford Shale assets - Houston Chronicle March 20, 2019
- Nuevo Dos to Expand Newly Acquired Eagle Ford System - Natural Gas Intelligence March 21, 2019
- An error has occurred; the feed is probably down. Try again later.
- Bahrain LNG terminal to start commercial operations in May - Reuters March 25, 2019
- Woodside evacuates offshore gas, LNG production platforms as cyclone hits Western Australia - S&P Global Platts March 25, 2019
- Mexican presidential frontrunner will not reverse energy reform: adviser
- Global commodity trader Koch cuts staff in restructuring
- Energy partnerships simplify business models to spur growth
- Mexico Strives to Generate a Homespun Fracking Revolution | 2018-02-21 | Natural Gas Intelligence
- Avant plans logistics system to import refined products into Mexico
- Mexico’s Natural Gas Dilemma | OilPrice.com
- India Wants Eleven More LNG Import Terminals
- Q&A: Plastics boom keeps Houston humming – Houston Chronicle
- Commodities fund Jamison Capital to shut – Reuters