OPEC Agrees To First Cut In Oil Production Since 2008
With the cut, OPEC's production will drop by 1.2 million barrels daily to 32.5 million barrels. The deal takes effect at the start of 2017.
OPEC
OPEC Tried To Boost Price Of Oil, But Couldn't Agree On Production Cuts
The oil-producing nations in the group gathered in Qatar to discuss the possibility of a production freeze, but Saudi Arabia balked at the idea of a freeze that didn't include Iran.
Highflying 'Emerging Markets' Had Their Wings Clipped In 2015
A weakening commodities market, hindered largely by the slowdown in China, has hurt economies in Latin America, Africa and elsewhere.
Falling Oil Prices Hit Levels Not Seen Since 2009
OPEC's failure to agree on production cuts last Friday has sent prices down further.
As Saudi Arabia Battles Its Oil Rivals, Prices Are Expected To Stay Low
The Saudis could push up world oil prices by cutting their production. But they seem to feel that would mostly help their rivals, like Iran and Russia. So the Saudis are expected to keep pumping away.
OPEC Members Feeling The Pain Of Falling Oil Prices
Venezuela's leader was in Qatar this week seeking billions to shore up his flagging economy. Oil prices have fallen by nearly 50 percent since last year and are now near a six-year low.
Stocks Are Battered As Oil Hits Another 5-Year Low
Oil prices have fallen 40 percent over the past six months. OPEC, which is holding production levels steady, said today it expected lower global demand for oil next year.
Oil Prices Tumble After OPEC Holds Firm On Output
Ministers of the Organization of Petroleum Exporting Countries meeting in Austria could not agree to cut production in an effort to stabilize global crude prices.
Experts Predict Low Oil Prices Through Next Year
Following a decision by OPEC ministers not to cut production, crude prices had fallen to a four-year low before rebounding slightly.