OPEC Meetings
The morning sun rises behind oil rigs sitting in storage Saturday, Feb. 6, 2021 at a yard outside of Odessa, Texas. The OPEC oil cartel and allied countries said Thursday, April 1, 2021 that they have decided to add gradually add back some 2 million barrels per barrel per day of oil production from May to July, moving cautiously in pace with the recovery of the global economy from the COVID-19 pandemic. (Eli Hartman/Odessa American via AP, file)
OPEC and allies agree to gradually boost crude oil output

By David Mchugh Apr. 01, 2021 01:39 PM EDT

Storage tanks are seen at the North Jiddah bulk plant, an Aramco oil facility, in Jiddah, Saudi Arabia, Sunday, March 21, 2021. Saudi Arabia’s state-backed oil giant Aramco announced Sunday that its profits nearly halved in 2020 to $49 billion, a big drop that came as the coronavirus pandemic roiled global energy markets. (AP Photo/Amr Nabil)
Saudi minister urges caution on oil production levels

By David Mchugh Apr. 01, 2021 09:38 AM EDT

FILE - In this Wednesday, April 8, 2020, file photo, the sun sets behind an idle pump jack near Karnes City, USA. Members of oil producer cartel OPEC and allied countries are meeting online Thursday March 4, 2021, considering a possible increase in production now that prices have recovered to near their pre-pandemic levels. (AP Photo/Eric Gay, File)
OPEC, Russia send oil price up with deal to contain output

By David Mchugh Mar. 04, 2021 06:17 AM EST

Seagulls fly as a man rides his bicycle in front of the Port on the Red Sea, in Jiddah, Saudi Arabia, Sunday, Dec. 27, 2020. (AP Photo/Amr Nabil)
Saudis take on burden of oil output cut to support price

Jan. 05, 2021 02:36 PM EST

OPEC, allies adjourn meeting over oil production levels

Jan. 04, 2021 02:39 PM EST
FRANKFURT, Germany (AP) — Members of the OPEC oil cartel and allied countries including Russia on Monday adjourned a meeting weighing whether to increase...

FILE - In this Dec. 19, 2019 file photo, the advertising label of the Organization of the Petroleum Exporting Countries, OPEC, shines at their headquarters in Vienna, Austria. Leaders of the OPEC cartel are meeting virtually to decide how much oil their countries should produce as the coronavirus stifles demand for fuel. They’re expected to extend production cuts into the new year in an effort to boost prices. (AP Photo/Ronald Zak, File)
OPEC talks on production hit snag as pandemic clouds outlook

By David Mchugh Dec. 01, 2020 08:44 AM EST

FILE - In this Dec. 19, 2019 file photo, the advertising label of the Organization of the Petroleum Exporting Countries, OPEC, shines at their headquarters in Vienna, Austria. Leaders of the OPEC cartel are meeting virtually to decide how much oil their countries should produce as the coronavirus stifles demand for fuel. They’re expected to extend production cuts into the new year in an effort to boost prices. (AP Photo/Ronald Zak, File)
OPEC talks on oil production to go into second day

By Cathy Bussewitz And David Mchugh Nov. 30, 2020 12:01 AM EST

FILE - In this Thursday, Dec. 5, 2019, file photo, the advertising label of the Organization of the Petroleum Exporting Countries, OPEC, shines at their headquarters in Vienna, Austria. Ministers from the OPEC cartel have agreed to allow more oil to flow from the taps, saying demand for oil is growing as economies take steps to re-open. But they also cautioned that they could revisit the decision in an emergency meeting if there are serious lockdowns that further reduce demand for oil. (AP Photo/Ronald Zak, File)
OPEC and allies to ease cuts, allow more oil production

By Cathy Bussewitz Jul. 15, 2020 05:02 PM EDT

FILE - In this Thursday, Aug. 31, 2017, file photo, a flame burns at the Shell Deer Park oil refinery in Deer Park, Texas. Oil prices are plunging Sunday, March 8, 2020, amid worries that an OPEC dispute will lead a virus-weakened economy to be awash in an oversupply of crude. (AP Photo/Gregory Bull, File)
OPEC, allied nations extend nearly 10M barrel cut by a month

By Jon Gambrell And Frank Bajak Jun. 06, 2020 12:47 PM EDT

In this Thursday evening, April 2, 2020 photo, traffic passes over the Midland-Odessa county line in front of an oil rig storage yard. (Odessa American/Eli Hartman)
Global pact to contain oil price crash takes shape

By Jon Gambrell Apr. 10, 2020 01:49 AM EDT

FILE - In this Dec. 11, 2019, file photo, Saudi Arabia's state-owned oil company Armco and stock market officials celebrate during the official ceremony marking the debut of Aramco's initial public offering (IPO) on the Riyadh's stock market, in Riyadh, Saudi Arabia. Saudi Arabia's oil company Aramco said Wednesday, march 11, 2020, it will increase production capacity to 13 million barrels per day, up from 12 million per day, part of a strategy to dominate market share amid a slowdown in demand due to the outbreak of a new virus. (AP Photo/Amr Nabil, File)
Trump says he expects Russia, Saudis to cut oil production

By Aya Batrawy And Cathy Bussewitz Apr. 02, 2020 05:11 PM EDT