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Oil down 1 percent despite news OPEC could extend output cut

EghtesadOnline: Oil prices reversed gains to trade nearly 1 percent lower on Thursday but continued to hold in a tight range as the market weighed swelling U.S. inventories against possible renewed efforts by major oil producers to reduce a price-sapping glut.
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Publish Date:16/February/2017 | 21:16

OPEC Wins Plaudits for Oil Recovery, Yet Economy Lends a Hand

EghtesadOnline: OPEC may be getting all the credit for reviving the oil market, but it had a little help. While the Organization of Petroleum Exporting Countries did spur a 28 percent recovery late last year by announcing production cuts, supply isn’t the only factor buoying the market: demand repeatedly beat expectations in 2016, and is set to surprise again.
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Publish Date:16/February/2017 | 20:09

OPEC Data Show Iran's Oil Output Within Limits

EghtesadOnline: Iran's crude oil production rose by 50,200 barrels per day in January over the previous month, reaching 3.75 million bpd, OPEC said in its monthly report on Monday, citing secondary sources.
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Publish Date:15/February/2017 | 05:49

$30 Million Increase in Daily Oil Export Income

EghtesadOnline: An agreement between OPEC and non-OPEC producers last year to cut crude supplies has raised Iran's oil revenues by $30 million per day, a deputy oil minister said on Sunday.
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Publish Date:13/February/2017 | 06:25

Russia to decide in April-May if global oil deal should be extended: TASS

EghtesadOnline: Russia will decided in April or May whether an agreement on global oil output cuts between OPEC and non-OPEC producers, set to end on June 31, should be extended, TASS news agency quoted Russian Energy Minister Alexander Novak as saying on Saturday.
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Publish Date:12/February/2017 | 05:18

Oil rises on 90 percent compliance on OPEC output deal

EghtesadOnline: Oil prices rose more than 1 percent on Friday after the International Energy Agency (IEA) reported record initial compliance by OPEC members implementing last year's landmark deal to curb output in an effort to prop up global oil prices.
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Publish Date:10/February/2017 | 24:37

Investors Have Never Loved OPEC So Much as It Sticks to Cuts

EghtesadOnline: Investors are betting big that OPEC’s cuts are real. Money managers are the most bullish ever on West Texas Intermediate crude for a second week as signs show OPEC and other nations are slashing production.
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Publish Date:06/February/2017 | 06:06

IEA Says $65 Oil 'Ambitious'

EghtesadOnline: Despite a recent OPEC agreement to cut oil production and boost prices, it is unrealistic to expect that the commodity will reach $65 a barrel in the near term, an analyst at the Paris-based International Energy Agency told CNBC.
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Publish Date:04/February/2017 | 10:03

Oil prices dip as rising U.S. supplies offset OPEC cuts

EghtesadOnline: Oil dipped on Wednesday, weighed down by ongoing high supplies despite an OPEC-led production cut, but prices remained within a narrow trading band that has been in place since late January.
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Publish Date:01/February/2017 | 05:27

Oil extends declines on rising U.S. output

EghtesadOnline: Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that could partly offset output cuts by OPEC and other producers.
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Publish Date:30/January/2017 | 05:45

Oil Shipments Show That OPEC Is Sticking to Its Cuts

EghtesadOnline: Oil supplies from OPEC are plunging this month as the group implements production cuts aimed at erasing a global surplus, according to tanker-tracker Petro-Logistics SA.
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Publish Date:28/January/2017 | 04:39

Oil eases on rising U.S. inventory, market looks to EIA data

EghtesadOnline: Oil edged lower on Wednesday as expectations of an increase in U.S. inventories weighed on the market, offsetting bullish momentum from output cuts announced by OPEC and other producers.
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Publish Date:25/January/2017 | 06:58

Oil Rises Near $53 as Iraq Says Close to Full OPEC Cut Pledge

EghtesadOnline: Oil advanced to trade near $53 a barrel as Iraq said it’s close to implementing its share of pledged output curbs agreed with OPEC to trim bloated global inventories and stabilize the market.
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Publish Date:24/January/2017 | 04:44

Iran Committed to Supply Cut Deal

EghtesadOnline: Iran is maintaining crude oil production within the framework of a global pact reached last year to cut supplies to ease the bloated oil inventories and lift sagging prices, a deputy at the National Iranian Oil Company said.
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Publish Date:23/January/2017 | 14:23

OPEC and Friends Agree on Way to Monitor Oil Cut to End Glut

EghtesadOnline: OPEC and other oil producers agreed on a way to monitor their compliance with last month’s historic supply deal, putting global markets on track to re-balance after more than two years of oversupply.
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Publish Date:23/January/2017 | 04:39