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OPEC And Global Producers Agree On Cutting Output After Weeks’ Talks

Apr 13, 2020 07:21 PM EDT

After weeks of talks and negotiations, the world's top oil producers have finally agreed to cut global crude output by a historic margin.

The demand from China is also projected to be all time high, further fueling the price trend for the commodity.

Crude Price Up on OPEC Cut, Record China Demand Forecast

S. Rina |

Jan 14, 2017 03:09 AM EST

Oil prices are on the upswing following the news of production cuts by major crude exporters including Russia and Saudi Arabia. The demand from China is also projected to be all time high, further fueling the price trend for the commodity.

A Chinese woman carries coal in the hills above the Chishui River

China Capable of Meeting Oil, Coal Annual Reduction Target

Steve M.C. |

Nov 13, 2016 12:02 PM EST

A Chinese official has confirmed the possibility of China meeting its yearly target of reducing its over congested steel and coal industry.

China is believed to have built up massive stockpile of oil under its government-managed strategic petroleum reserve

China’s Oil Reserve may Subvert any OPEC Move to Push up Petroleum Prices

S. Rina |

Sep 28, 2016 12:53 PM EDT

Members of the Organization of Petroleum Exporting Countries (OPEC) are scheduled to hold an informal meeting in Algiers later this week. The continuous decline in oil prices is likely to be the main agenda at the meeting. However, experts believe that China's oil reserves may subvert any decision taken by OPEC members to push up petroleum prices.

Brent Crude Oil Price Falls to Lowest Level Since 2009

Dino Lirios |

Jan 13, 2015 10:48 PM EST

Brent crude oil has fallen below US$50, marking its lowest level since early 2009. It is now at a six-year low.

Gas Prices Forecast to Dip to $2.64 per Gallon

Vittorio Hernandez |

Jan 06, 2015 02:37 AM EST

Due to the continuous decline of crude oil prices, American motorists are expected to save US$750 per household as pump prices are forecast to average US$2.64 a gallon in 2015.

US Gas Prices Hit 5 ½-Year Low Of US$2.47 A Gallon

Vittorio Hernandez |

Dec 22, 2014 03:33 AM EST

The continuing drop in the price of oil in the international market gave American motorists an advanced Christmas present as price of regular-grade gasoline went down to a five-and-a-half-year low of US$2.47 per gallon.

OPEC Decides Against Crude Oil Cutbacks Despite Falling Prices

Dan Weisman |

Nov 28, 2014 01:28 AM EST

Meeting in Vienna, Austria, Thursday, the Organization of the Petroleum Exporting Countries (OPEC) decided not to curtail oil production despite rapidly falling crude oil prices.

Failure Of OPEC To Assure Market That Oil Price Won’t Collapse Causes 4.1% Drop In WTI Net-Long Positions

Vittorio Hernandez |

Nov 24, 2014 03:55 AM EST

The once very powerful oil cartel, the Organization of Petroleum Exporting Countries (OPEC), is not impressing hedge fund managers over the group's failure to assure the market that oil prices won't collapse.