Putin Says Countries in OPEC+ Deal Are Abiding by Agreement - Bloomberg:
OPEC+ states including Saudi Arabia are complying with the terms of the agreement to limit oil output, Russian President Vladimir Putin said.
“We have agreements within the OPEC+. We fulfill our agreements and we don’t have any news, any information, from our Saudi partners and any other OPEC member, that they are ready to exit these agreements,” Putin told reporters in Beijing on Saturday, where he participated in the Belt and Road forum.
On Friday, U.S. President Donald Trump tweeted that he “spoke to Saudi Arabia and others about increasing oil flow” and said that “all are in agreement” after the administration announced on Monday that it wouldn’t extend waivers for buyers of Iranian crude that had allowed them to continue purchases despite American sanctions.
Saturday, 27 April 2019
Oil Bulls on Longest Run in 13 Years as Trump Demands Price Cut - Bloomberg
Oil Bulls on Longest Run in 13 Years as Trump Demands Price Cut - Bloomberg:
Oil is on its longest bull run in 13 years, fueling a rally that has U.S. President Donald Trump fretting about higher prices.
Hedge funds have increased bullish sentiment on U.S. crude prices for the last nine weeks, the longest such run since 2006, according to data released Friday. Almost 14 times as many bets have been placed on prices going up as on a decline, as investors see supply threats multiplying around the globe.
Gasoline prices have risen in tandem this year, and Trump on Friday said that he has pressured OPEC to boost output to reverse the trend. That helped stall a rally that drove oil to a six-month high, partly due to tightened U.S. sanctions against Iran. But the ebullient tilt in speculative wagers suggested a correction was likely no matter what, said Phil Flynn of Price Futures Group Inc.
Oil is on its longest bull run in 13 years, fueling a rally that has U.S. President Donald Trump fretting about higher prices.
Hedge funds have increased bullish sentiment on U.S. crude prices for the last nine weeks, the longest such run since 2006, according to data released Friday. Almost 14 times as many bets have been placed on prices going up as on a decline, as investors see supply threats multiplying around the globe.
Gasoline prices have risen in tandem this year, and Trump on Friday said that he has pressured OPEC to boost output to reverse the trend. That helped stall a rally that drove oil to a six-month high, partly due to tightened U.S. sanctions against Iran. But the ebullient tilt in speculative wagers suggested a correction was likely no matter what, said Phil Flynn of Price Futures Group Inc.
Putin hopes #Iran will continue oil exports despite U.S. warning - Reuters
Putin hopes Iran will continue oil exports despite U.S. warning - Reuters:
Russian President Vladimir Putin said on Saturday he hoped Iranian oil exports would continue despite Washington’s efforts to stop them.
Washington has demanded that buyers of Iranian crude halt purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues.
The United States expects Saudi Arabia and its Gulf allies to boost output in order to offset the cut in Iranian supplies.
Russian President Vladimir Putin said on Saturday he hoped Iranian oil exports would continue despite Washington’s efforts to stop them.
Washington has demanded that buyers of Iranian crude halt purchases by May 1 or face sanctions, a move to choke off Tehran’s oil revenues.
The United States expects Saudi Arabia and its Gulf allies to boost output in order to offset the cut in Iranian supplies.
Saudis, OPEC deny discussing lowering oil prices with Trump: report
Saudis, OPEC deny discussing lowering oil prices with Trump: report:
Neither Saudi Arabia’s energy minister nor OPEC’s secretary general discussed lowering oil prices with President Donald Trump, sources told the Wall Street Journal, denying the U.S. leader’s earlier claim.
Moments after the Journal reported the denials, Trump took to Twitter to double down on his earlier remark.
“Spoke to Saudi Arabia and others about increasing oil flow. All are in agreement,” the president tweeted.
Neither Saudi Arabia’s energy minister nor OPEC’s secretary general discussed lowering oil prices with President Donald Trump, sources told the Wall Street Journal, denying the U.S. leader’s earlier claim.
Moments after the Journal reported the denials, Trump took to Twitter to double down on his earlier remark.
“Spoke to Saudi Arabia and others about increasing oil flow. All are in agreement,” the president tweeted.
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