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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

Oil falls on bulging U.S. crude inventories, record global supplies

EghtesadOnline: Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market.
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Publish Date:26/April/2017 | 06:34

Oil rises to near one-month high on tightening of supplies

EghtesdaOnline: Oil climbed to a near one-month high on Wednesday on signs of a gradual tightening in global oil inventories and on concerns about a supply outage at a field in the United Kingdom's North Sea that feeds into an international benchmark price.
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Publish Date:05/April/2017 | 05:46

OPEC's Barkindo Sees Progress in Oil Cuts as Stockpiles Shrink

EghtesadOnline: Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo.
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Publish Date:03/April/2017 | 04:12

U.S. supply concerns keep oil prices under pressure

EghtesadOnline: Oil prices slipped on Monday despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S. oil output and high inventories.
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Publish Date:20/March/2017 | 23:17

Oil Stocks Rise Regardless of Supply Adjustments

EghtesadOnline: OPEC said on Tuesday oil inventories had continued to rise despite the start of a global deal to cut supply and raised its forecast of production in 2017 from outside the group, suggesting complications in the effort to clear a supply glut.
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Publish Date:15/March/2017 | 13:42

IEA Sees Oil Investment Revival After a Two-Year Rout

EghtesadOnline: Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International Energy Agency said.
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Publish Date:07/March/2017 | 05:13

Oil down, but ends year with biggest gain since 2009

EghtesadOnline: Oil prices settled slightly lower on Friday, the year's last trading day, but attained their biggest annual gain since 2009, after OPEC and partners agreed to cut output to reduce a supply overhang that has depressed prices for two years.
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Publish Date:31/December/2016 | 04:55

OPEC Deal to Create Oil-Supply Deficit Next Half, IEA Says

EghtesadOnline: Global oil markets will swing from surplus to deficit in the first half of 2017 as OPEC and other producers follow through on an agreement to cut supply, according to the International Energy Agency.
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Publish Date:13/December/2016 | 19:35

OPEC says members investing heavily to ensure oil supply

EghtesadOnline: OPEC members are investing heavily to ensure supplies can meet global oil demand, which is likely to continue to rise steadily, the group's secretary general told an energy conference on Monday.
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Publish Date:05/December/2016 | 10:51

Oil Speculators Abandon Hope OPEC Reaches Supply Agreement

EghtesadOnline: Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this week in Algiers.
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Publish Date:26/September/2016 | 08:28

Oil edges lower amid scepticism about output freeze

EghtesadOnline: Oil prices inched lower on Wednesday as market participants remained skeptical that producers will reach an agreement to freeze output to rein in a global supply glut.
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Publish Date:07/September/2016 | 07:48