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Iran Oil Minister Backs Extension of Crude Supply Cuts

EghtesadOnline: Tehran will support a decision to extend an OPEC-led agreement to cut crude oil supplies and lift sagging prices if other members of the Organization of Petroleum Exporting Countries continue to comply with their planned cuts.
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Publish Date:01/May/2017 | 24:27

Oil prices inch down on high stocks, weak China factories survey

EghtesadOnline: Oil prices edged lower on Monday, undermined by a weak manufacturers survey out of China, and despite talk that OPEC-led crude oil output cuts could be extended when oil producers meet later this month.
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Publish Date:01/May/2017 | 05:14

OPEC Ministers to Meet Russia Amid Push to Extend Cuts

EghtesadOnline: The energy ministers of OPEC members Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing consensus that they should prolong their joint effort to curb supply.
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Publish Date:27/April/2017 | 05:35

Russia's Oil Cuts Won't Be So Easy If OPEC Deal Is Extended

EghtesadOnline: For Russian oil companies, the historic agreement to boost prices by cutting output in conjunction with the Organization of Petroleum Exporting Countries was an easy win. Extending the deal will be less straightforward.
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Publish Date:25/April/2017 | 18:11

Oil recovers lost ground, but market remains under pressure

EghtesadOnline: Oil prices recovered ground on Monday following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.
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Publish Date:24/April/2017 | 05:53

Oil Prices Slide

EghtesadOnline: Oil prices edged lower on Friday, on course for the biggest weekly drop in a month, over doubts that an OPEC-led production cut will restore balance to an oversupplied market.
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Publish Date:22/April/2017 | 08:29

Iran adheres to its commitments to OPEC: oil minister

EghtesadOnline: Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian oil minister Bijan Zanganeh said.
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Publish Date:17/April/2017 | 11:47

OPEC Arab Producers Pushing for $60 Oil

EghtesadOnline: Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling they will support additional production cuts next month.
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Publish Date:17/April/2017 | 08:44

Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs

EghtesadOnline: Oil advanced for a seventh day in New York, the longest gain since December, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as U.S. stockpiles show signs of shrinking.
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Publish Date:12/April/2017 | 08:32

Algeria Joins Call to Roll Over Oil Production Cuts Beyond June

EghtesadOnline: Algeria’s energy minister supports extending global oil production cuts beyond June as the strategy is succeeding in reducing global inventories. Russia is moving ahead with its own reductions to curb a global glut.
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Publish Date:26/March/2017 | 04:46

Oil prices hit 3-month low as U.S. rig count climbs

EghtesadOnline: Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs.
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Publish Date:13/March/2017 | 05:31

OPEC's Houston Huddle Deepens Oil Cuts Dilemma

EghtesadOnline: OPEC ministers met with partners and rivals in Houston this week as they try to figure out whether to prolong production cuts. That decision only got harder.
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Publish Date:09/March/2017 | 06:09