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U.S. Oil Output Set to Decline as OPEC Deal Up in Air, EIA Says

EghtesadOnline: U.S. crude production is set to decline this year as the Organization of Petroleum Exporting Countries struggles to put a dent in global oversupply, according to the head of the U.S. Energy Information Administration.
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Publish Date:02/November/2016 | 05:53

Wall Street set to open lower as Apple drags

EghtesadOnline; U.S. stock index futures pointed to the second straight day of decline at the open, with Apple dropping on disappointing quarterly sales and oil prices pressured by lingering concerns about a glut.
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Publish Date:26/October/2016 | 13:29

Oil rises after Iraq signals possible OPEC cut extension

EghtesadOnline: Oil prices rose on Wednesday after Iraq’s oil minister said OPEC and other crude producers were considering extending or even deepening a supply cut to curb a global glut, while a report showed a smaller-than-expected increase in U.S. inventories.
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Publish Date:20/September/2017 | 07:30

OPEC's Oil-Glut Fight Could Last Years

EghtesadOnline: When OPEC and Russia first embarked on their strategy to clear a global oil glut, it was expected to succeed within six months. It now looks like the battle could last for years.
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Publish Date:16/August/2017 | 05:13

Oil Producers Don’t Have a Plan to End the Glut

EghtesadOnline: OPEC and Russia’s plan to clear the global oil glut hasn’t worked as they hoped, but there’s little expectation the world’s largest producers will act more aggressively when they meet this weekend.
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Publish Date:21/July/2017 | 07:44

All eyes on July for U.S. oil demand to drain glut

EghtesadOnline: U.S. oil traders are hoping the sweltering days of July are also hot ones for demand, believing the new month is the last best opportunity this year to see the overhang of inventories finally subside.
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Publish Date:02/July/2017 | 08:49

Industrials Push Rebound in U.S. Stocks; Oil Gains

EghtesadOnline: U.S. stocks closed up Friday buoyed by increases in the industrial and consumer discretionary sectors, while European shares reversed earlier gains and turned lower. Oil continued to climb as concerns about an oversupply faded.
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Publish Date:01/July/2017 | 05:21

Stocks Struggle as Oil Heads for Fifth Weekly Loss

EghtesadOnline: Equities slipped, with European shares extending the longest run of weekly losses in a year as U.K.-listed stocks struggled on the anniversary of Britain’s vote to leave the European Union. Oil was poised for a fifth week of decline as a supply glut shows no sign of ending.
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Publish Date:23/June/2017 | 24:55

Oil prices hold near seven-month lows, glut keeps dragging

EghtesadOnline: Oil markets held around seven-month lows on Tuesday as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support prices.
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Publish Date:20/June/2017 | 05:34

Oil Slips as Gulf Diplomatic Clash Seen to Have Limited Impact

EghtesadOnline: Oil dropped to the lowest level in more than three weeks as the market refocused on glut concerns after a diplomatic clash involving Saudi Arabia and Qatar was seen as having a limited impact on supply.
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Publish Date:06/June/2017 | 08:35

Expert Links OPEC Supply Cut Deal to Political Concord

EghtesadOnline: Had OPEC producers not compartmentalized political disagreements from economic issues, they would not have succeeded in extending the oil production cut deal for nine more months to battle the global glut, the former head of petroleum market studies department at the Oil Ministry said.
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Publish Date:29/May/2017 | 05:53

OPEC Fails to Clear Global Oil Glut , But Gets More Money Anyway

EghtesadOnline: At first glance, OPEC’s cuts haven’t worked -- global oil inventories remain well above normal levels. But the policy’s made a difference where it really counts: juicing the coffers of finance ministries from Baghdad to Caracas.
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Publish Date:24/May/2017 | 04:32