OPEC crude output falls in September, led by Gulf producers’ decline

OPEC crude output fell this month, led by declines in the group’s three-biggest producers.

Output from the Organization of Petroleum Exporting Countries fell by 233,000 barrels to 32.048 million a day this month, according to a Bloomberg survey of oil companies, producers and analysts. Last month’s total was revised 35,000 barrels lower to 32.281 million a […]

Commodity rout beginning to look like a crisis

The 15-month commodities free-fall is starting to resemble a full-blown crisis.

Investors are reacting to diminished demand from China and an end to the cheap-money era provided by the Federal Reserve. A Bloomberg index of commodity futures has fallen 50 per cent since a 2011 high, and eight of the 10 worst performers in the Standard […]

OPEC sees oil prices returning to $80 a barrel by 2020

OPEC forecasters expect oil prices will rise by no more than $5 a barrel a year to reach $80 by 2020, with a slowing in rival non-OPEC production growth not enough to absorb the current oil glut, according to OPEC sources.

The sources said the figures came from an updated mid-term strategy report discussed this week […]

OPEC says the world will want more of its oil next year

OPEC on Monday predicted higher demand for its crude oil next year, sticking to its view that a strategy of letting prices fall will tame the U.S. shale boom and cut a global surplus.

The monthly report from the Organization of the Petroleum Exporting Countries also said a weaker outlook for China would contribute to slower […]