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How Global Oil Flows Might Look After OPEC’s Supply Shock

EghtesadOnline: OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform international trade flows of the world’s most important commodity.
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Publish Date:17/December/2016 | 06:46

Oil prices fall on rising U.S. crude stocks, OPEC output concerns

EghtesadOnline: Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut.
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Publish Date:14/December/2016 | 24:11

Oil Soars as Output Deal Weighs on Bonds; China Shares Tumble

EghtesadOnline: Crude oil surged to the highest in 17 months amid efforts to cut production, pushing up the outlook for global inflation and sending 10-year Treasury yields above 2.5 percent for the first time since October 2014. Chinese equities tumbled.
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Publish Date:12/December/2016 | 14:10

Russian Energy Minister Says Oil Cuts to Start in January

EghtesadOnline: Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said.
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Publish Date:12/December/2016 | 13:54

Oil surges after output cuts, strong dollar weighs

EghtesadOnline: Oil prices jumped to their highest levels in a year and a half on Monday after OPEC and non-OPEC producers agreed to cut oil output to ease a global glut, while the U.S. dollar extended gains before a Federal Reserve meeting this week, at which a rate hike is widely expected.
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Publish Date:12/December/2016 | 05:21

OPEC, non-OPEC agree first global oil pact since 2001

EghtesadOnline: OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.
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Publish Date:11/December/2016 | 05:32

Saudis Signal Deeper Cuts After Deal With Non-OPEC Countries

EghtesadOnline: Saudi Arabia signaled it’s ready to cut oil production more than expected, a surprise announcement made minutes after Russia and several non-other OPEC countries pledged to curb output next year.
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Publish Date:11/December/2016 | 05:26

Saudi Arabia Starts Telling Refiners Oil Supply Will Be Cut

EghtesadOnline: Saudi Arabia has started to tell its customers it will reduce crude shipments from January, with the curbs focused on Europe and North America while Asian refineries are so far largely spared.
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Publish Date:10/December/2016 | 13:07

OPEC Meets With Non-OPEC Counterparts for Oil Cuts Deal

EghtesadOnline: The Organization of Petroleum Exporting Countries is meeting with countries outside the group in Vienna on Saturday to agree on a pact to curb oil supply and drain record global stockpiles.
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Publish Date:10/December/2016 | 13:05

OPEC Ministers See Oil Market Balanced If Non-OPEC Joins Cut

EghtesadOnline: Two of OPEC’s leading ministers said its plan to rebalance the oil market will only work if Russia and other countries outside the group follow through on their commitments to rein in production.
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Publish Date:08/December/2016 | 18:23

Oil steadies on doubts output cut will end global glut

EghtesadOnline: Oil prices steadied on Wednesday as investors waited to see if OPEC and Russia would deliver promised production cuts designed to end a supply overhang that has weighed on the market for more than two years.
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Publish Date:07/December/2016 | 10:59

U.A.E. Oil Minister Says OPEC Will Act Again If Prices Decline

EghtesadOnline: A cut in global oil output by 1.8 million barrels a day would be enough to balance the crude market, and OPEC is ready to take further action if prices fail to stabilize, United Arab Emirates Energy Minister Suhail Al Mazrouei said in Abu Dhabi.
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Publish Date:07/December/2016 | 09:50

OPEC Seeks Cuts From Nations Pumping a Fifth of Oil

EghtesadOnline: OPEC has invited 14 other crude producers, who together pump about a fifth of the world’s oil, to talks this week in Vienna aimed at securing wider cooperation with production cuts.
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Publish Date:06/December/2016 | 16:27

Oil dips as OPEC, Russian output rises ahead of production cut

EghtesadOnline: Oil prices slipped on Tuesday as crude output rose in virtually every major export region despite plans by OPEC and Russia to cut production, triggering fears that a fuel glut that has dogged markets for over two years might last well into 2017.
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Publish Date:06/December/2016 | 10:48

Iran's oil minister to attend OPEC, non-OPEC meeting in Vienna: SHANA

EghtesadOnline: Iran's oil minister Bijan Namdar Zanganeh will attend the meeting between OPEC and non-OPEC members on Dec 10 in Vienna, the ministry's news agency SHANA said on Monday, as the countries try to finalize a global oil output -limiting pact.
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Publish Date:05/December/2016 | 11:05

Crude enjoys best weekly gain in years

EghtesadOnline: Crude prices have soared after the Organization of the Petroleum Exporting Countries agreed to cut crude output.
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Publish Date:03/December/2016 | 08:08