Tag: Oil Glut
Saudi minister says OPEC moving to common position on oil output changes
OPEC “collective effort” needed to achieve output freeze TOKYO, Sept 1 (Reuters) – Saudi Arabia’s minister of foreign affairs said on Thursday that it would be reasonable for the kingdom to go along with OPEC and non-OPEC producers in changes to oil production. Adel al-Jubeir, speaking at an event in Tokyo, said many oil producers were increasingly moving […]
Oil glut: US running out of room to store crude
Prices for oil and gasoline could plunge due to oil glut The U.S. has so much crude that it is running out of places to put it, and that could driveoil and gasoline prices even lower in the coming months. For the past seven weeks, the United States has been producing and importing an average […]
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