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Saudis See No Need to Extend OPEC Deal Beyond Six Months

EghtesadOnline: OPEC probably won’t need to extend a deal it reached with other crude producers to cut output, given compliance with the reductions and the outlook for an increase in global demand, Saudi Energy Minister Khalid Al-Falih said.
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Publish Date:16/January/2017 | 14:59

Oil prices edge up on expectations of tightening supplies

EghtesadOnline: Oil edged higher on Wednesday, with top exporter Saudi Arabia expected to raise prices for its crude as part of planned supply cuts, although a strong dollar and moderate economic growth prospects restricted gains.
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Publish Date:04/January/2017 | 05:15

Saudi Oil Minister Sees Commitment to Cuts Ending Glut in Months

EghtesadOnline: OPEC and other major oil producers are committed to a “high level of compliance” with their agreements to cut output, and the shared strategy will balance the market in 2017, Saudi Oil Minister Khalid Al-Falih said.
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Publish Date:17/December/2016 | 07:00

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

Saudi wants OPEC to solve own problems before meeting non-OPEC

EghtesadOnline: Top OPEC oil exporter Saudi Arabia has told the producer group it will not attend talks on Monday with non-OPEC producers to discuss limiting supply, OPEC sources said, as it wants to focus on having consensus within the organization first.
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Publish Date:26/November/2016 | 21:37

Oil falls $2 a barrel on OPEC cut uncertainty ahead of meeting

EghtesadOnline: U.S. crude fell nearly 4 percent on Friday, dragged down by uncertainty over whether the Organization of the Petroleum Exporting Countries will reach an output deal, after Saudi Arabia said it will not attend talks on Monday with non-OPEC producers to discuss supply cuts.
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Publish Date:26/November/2016 | 21:34

Saudi Arabia’s Sway in OPEC Limited by Resurgent Iraq and Iran

EghtesadOnline: Saudi Arabia’s dominance of OPEC isn’t what it once was. Iraq and Iran, shaking off shackles of sanctions and war, have raised oil output to record highs and are asserting themselves within the Organization of Petroleum Exporting Countries.
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Publish Date:24/November/2016 | 17:36

Russian, Persian Gulf Arab Oil Ministers Meet as OPEC Cut Looms

EghtesadOnline: Russia’s energy minister met with counterparts from Saudi Arabia and other Persian Gulf Arab oil-producers to discuss steps to stabilize crude markets amid OPEC’s drive to win cooperation from the biggest supplier outside the group in limiting output to prop up prices.
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Publish Date:24/October/2016 | 09:14

Oil Market Glut Grows Bigger as Saudi Arabia Says Worst Is Over

EghtesadOnline: Listen to Saudi Arabia and hear the oil market is rebalancing. Look at the screen, and Brent is indeed holding above $50 a barrel. But dig deeper into the world of physical oil, and bearish signals abound, at least in the European market that helps dictate global prices.
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Publish Date:22/October/2016 | 08:54

Saudis Said to Boost Oil Sales to China as Pricing Lures Buyers

EghtesadOnline: Saudi Arabia, which is marshaling a potential deal with global crude producers to limit output, is said to have lifted sales to the world’s second biggest oil consumer after cutting the pricing for its supply.
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Publish Date:19/October/2016 | 08:39

OPEC agrees modest oil output curbs in first deal since 2008

EghtesadOnline: OPEC agreed on Wednesday modest oil output cuts in the first such deal since 2008, with the group's leader Saudi Arabia softening its stance on arch-rival Iran amid mounting pressure from low oil prices.
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Publish Date:29/September/2016 | 04:19