OPEC

Via RT…

The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris explore a historic decision from Qatar to leave OPEC, effective January 1, 2019. Qatar’s decision has much to do with OPEC plus and Russia’s expanding role in the global oil market.
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The Duran’s Alex Christoforou and Editor-in-Chief Alexander Mercouris discuss OPEC Plus and the growing partnership between Russia and Saudi Arabia, which aims to reshape the energy market, and cement Russia’s leadership role in global oil and gas supply.
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Authored by Tsvetana Paraskova via Oilprice.com.

For decades, the common thought about the United States was that its glory days of being the number one producer of oil were long over. Indeed, the current narrative in the US about gas prices is usually based on the uptick or downtick of suppliers from the OPEC cartel.

(MEE) — Oil will soon cost $100 per barrel due to supply disruptions caused by US President Donald Trump, Iran’s OPEC Governor told Reuters on Thursday, as he warned that expectations of Saudi Arabia and Russia helping bring down prices were in vain. Trump accused the Organization of the Petroleum Exporting Countries of driving fuel prices higher […]

(MEE) — US President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets in an interview that aired on Sunday. The president, in an interview with Fox News’s “Sunday Morning Futures with Maria Bartiromo also piled pressure on close US allies with a threat to sanction European companies that do business with […]

US president Donald Trump hoped to create economic pressure on the citizens of Venezuela and Iran by passing sanctions that would damage their oil market, among others.
Now that Trump’s sanctions have increased the price of oil, some OPEC member nations want to increase production in order to compensate for the loss of supply in the market from Iran and Venezuela to get a handle on the price of oil, which is on the rise.
However, in order to push through an agreement to increase production, OPEC needs unanimous agreement amongst its members.

Trump’s open and repeated criticism of OPEC and its influence on oil prices provides credibility to the belief that he would sign into law the NOPEC legislation that is currently making its way through Congress.

Oil prices are on the rise, and Trump is not happy about it. This past Wednesday, Trump took to Twitter to express his displeasure with the rise in the price of oil, a price increase that is partly due to the sanctions that he himself imposed on the oil producing nation of Iran.

Oil prices are too high, OPEC is at it again. Not good!
— Donald J. Trump (@realDonaldTrump) June 13, 2018