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OPEC

Global economic recovery eats through oil glut

by Scott Tong
Apr 20, 2018
This morning President Donald Trump turned his ire on OPEC: “OPEC is at it again,” he tweeted. “Oil prices are artificially Very High!” Sure, it’s convenient to blame someone for high gas prices. But the broader story — beyond the 280 characters that Twitter allows — is that something bigger is happening in the world oil […]
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Shelf Life

Minecraft has real-world life lessons to teach us

by Kai Ryssdal and Emily Henderson
Aug 23, 2017
Max Brooks talks about his new book "Minecraft: The Island" and what he learned from playing the online game.
Photo by LEON NEAL/AFP/Getty Images
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Dramatically different views emerge on the future of oil

by Andy Uhler
May 24, 2017
OPEC nations meet this week to discuss cuts to oil production, as prices for crude remain in a slump. Price volatility, changes to car technology, and other major uncertainties are leading to widely divergent views on the future of oil – namely, whether the world will see a peak in demand anytime soon. Click the […]
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International players from the oil industry meet in Houston

by Annie Baxter
Mar 7, 2017
International players from the oil industry are meeting in Houston this week for the annual gathering called CERAWeek. It’s the first meeting since the Organization of the Petroleum Exporting Countries, or OPEC, declared a historic cut in oil output last November in order to bring prices up from a 12-year low. It’s also the first […]
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The catch to the OPEC-Russia deal on oil? The U.S.

by Jed Kim
Dec 12, 2016
OPEC and Russia plan to cut oil production to raise prices – which could spur drilling in the U.S.
Saudi Oil Minister Khalid al-Falih walks alongside his Russian counterpart Alexander Novak during their meeting in Riyadh on October 23, 2016. 
FAYEZ NURELDINE/AFP/Getty Images
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OPEC hopes to include Russia in its pact to cut oil production

by Scott Tong
Dec 9, 2016
Pledging to cut production hasn’t always led to actual cuts.
Russian Energy Minister Alexander Novak, and various members of the Organization of Petroleum Exporting Countries (OPEC) attend a press conference during the 23rd World Energy Congress on October 12, 2016 in Istanbul.
OZAN KOSE/AFP/Getty Images
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OPEC woos other nations into production-cutting plan

by Lewis Wallace
Dec 9, 2016
The Organization of Petroleum Exporting Countries agreed this week to cut production for the first time in eight years. That could mean oil prices will go up. But that depends on whether OPEC can convince a bunch of other non-cartel countries to agree to the cut. The cartel has invited 14 other countries to a […]
An Austrian soldier stands guard outside the OPEC headquarters in Vienna in 2016.
Joe Klamar/AFP/Getty Images
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OPEC agrees to cut 1.2 million barrels a day to boost oil prices

by Jed Kim
Dec 1, 2016
The agreement by OPEC members to cut oil production by 1.2 million barrels a day — that’s 1 percent of global production — sent crude prices climbing after it was announced. The global oil industry hopes things will continue to trend that way. The deal is meant to reduce the current oil glut and get […]
An Austrian soldier stands guard outside the OPEC headquarters on the eve of the 171th meeting of the Organization of the Petroleum Exporting Countries in Vienna, on Tuesday.
JOE KLAMAR/AFP/Getty Images
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OPEC agrees to agree on oil limits, but outlook still shaky

by Lewis Wallace
Sep 29, 2016
We might have to say goodbye to cheaper gas.
The sun sets behind a oil derrick near the Saudi Arabian border with Kuwait. 
Joe Raedle/Getty Images
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OPEC fails to set a cap on oil output but prices still go up

by Donna Tam
Jun 2, 2016
The group overseeing 40 percent of the world's oil production is not agreeing on a policy.
Kuwait Oil Company workers change pipes on a drilling rig in 2003 on the northern border between Iraq and Kuwait in Kuwait. Kuwait is a member of OPEC, a group responsible for 40 percent of the world's crude oil. The group failed to agree on an oil cap Thursday.
Photo by Joe Raedle/Getty Images
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