Russia’s uncompromising refusal to adhere to OPEC’s proposed policy of cutting oil production caused the deal to fall apart entirely on March 6.
OPEC group of oil producers and its partners are set to maintain production cuts.
OPEC agrees to extend by nine months daily oil output cuts aimed at supporting prices and soaking up excess supplies.
Maduro’s government scrambles to return power to western Venezuela.
Qatar Petroleum CEO Saad al-Kaabi had long wanted the Gulf state to leave OPEC.
OPEC are working for a deal to reduce oil output by at least 1.3 million barrels per day.
Oil rises by more than 1 percent, set for its largest one-day increase in a month.
Oil rebounded to $73 a barrel on Wednesday after falling to its lowest since August.
Venezuela’s government said migratory patterns out of the OPEC nation are “normal”.
Russia joins an OPEC-led pledge to boost oil production in response to growing global demand, capping a week of tense diplomacy.
PM to unveil a new policy to deal with the impact of more expensive crude.
OPEC ministers gather in Vienna for crunch talks on a landmark pact curbing oil output.
European refiners are winding down oil purchases from Iran.
Venezuela’s socialist leader Maduro faces fresh international censure after a re-election denounced as a farce cementing autocracy.
Brent Crude fell 43 cents to $63.41 in London while in New York fellow benchmark West Texas Intermediate fell 30 cents to $57.81.
With oil prices nudging steadily higher, market expectations are for crude-pumping countries to prolong their deal to curb output.
Oil producers are expected to unanimously extend a production cut accord.
Saudi Arabia is gearing up for production cuts ahead of its massive share offering.
Oil investors seem to buy the idea that recovery is finally underway, but a price boom seems unlikely.
Venezuelan President Maduro is celebrating the election of a new legislative superbody.
Oil gains after Saudi Arabia pledges to curb exports and OPEC members to boost cuts.
Opposition calls a two-day national strike after another day of violent clashes.
Oil markets steadied yesterday, supported by firm demand but weighed down by high supplies from OPEC.
Oil prices edged up yesterday, lifted in part by a strong demand outlook for the coming weeks.