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Articles written by George Jahn

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OPEC, allies extend production cut through 2018

VIENNA (AP) — The OPEC cartel and a group of allied oil-producing nations agreed Thursday to extend crude output cuts until the end of next year, continuing a policy that led to a significant rise in the price of oil over the past year. At the...


OPEC and allies likely to extend production cuts at meeting

VIENNA (AP) — With crude prices at two-year highs, OPEC and allied oil producing-nations appear ready to agree to extend their output cuts at a meeting Thursday after Iraq's energy minister said there was broad agreement for such a move. Benchmark...


UN nuclear agency rejects Iran's stance on military sites

VIENNA (AP) — The top U.N. official monitoring Iran's nuclear program on Thursday rejected Tehran's claim that its military sites were off-limits to inspection, saying his agency needs access to all "relevant locations" if suspicions arise of...


OPEC extends output cut, but big oil price increase unlikely

VIENNA (AP) — An alliance of many of the world's biggest oil-producing nations extended their agreement to cut output for an additional nine months — an effort to support prices that will prove difficult in the face of growing production from the...


OPEC likely to extend output cuts into next year

VIENNA (AP) — The OPEC oil cartel and other producers, notably Russia, are this week expected to extend last year's production cut in a concerted attempt to prevent oil prices from falling. With prices likely to fall because of an oversupply in... Full story


AP Analysis: Will oil producers' cut have lasting impact?

VIENNA (AP) — It seems like a big deal. But the joint production cut from OPEC and non-OPEC countries — the first in 15 years — might push up the price of oil less than the nations involved are banking on. At over $50 a barrel, oil prices...


OPEC agrees to cut output in bid to push up oil price

VIENNA (AP) — Breaking with years of inaction, OPEC agreed Wednesday to cut its oil output for the first time since 2008. The move effectively scraps its strategy of squeezing U.S. competition through high supply that had backfired by lowering...


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