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Oil Rout Damps Stock Gains as Bonds, Dollar Slip

EghtesadOnline: Crude plunged to a six-month low, erasing gains sparked by OPEC’s November output agreement, as concerns over a supply glut mounted. Earnings kept U.S. stocks afloat, while Treasuries slid with the dollar.
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Publish Date:04/May/2017 | 21:09

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 down on record U.S. crude stocks, flat Russian output

EghtesadOnline: Oil prices fell on Thursday after U.S. crude stocks hit an all-time high and official data showed Russian oil production unchanged in February, with no further cuts to tighten the market and drain global oversupply.
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Publish Date:02/March/2017 | 13:12

OPEC's Pushing for Full Compliance With Oil Cuts, Barkindo Says

EghtesadOnline: Implementation of an agreement between OPEC and other major producers to reduce output has been “very encouraging” and the agreement is on track to reduce the global oil surplus, said the group’s top official.
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Publish Date:22/February/2017 | 04:53

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

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 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

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

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

How Global Oil Flows Might Look After OPEC’s Supply Shock

EghtesadOnline: OPEC’s quest to end a global crude glut already snapped a two-year slump in oil prices. Now attention is turning to how the group’s surprise decision to cut output will transform international trade flows of the world’s most important commodity.
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Publish Date:17/December/2016 | 06:46

Oil surges after output cuts, strong dollar weighs

EghtesadOnline: Oil prices jumped to their highest levels in a year and a half on Monday after OPEC and non-OPEC producers agreed to cut oil output to ease a global glut, while the U.S. dollar extended gains before a Federal Reserve meeting this week, at which a rate hike is widely expected.
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Publish Date:12/December/2016 | 05:21

Oil steadies on doubts output cut will end global glut

EghtesadOnline: Oil prices steadied on Wednesday as investors waited to see if OPEC and Russia would deliver promised production cuts designed to end a supply overhang that has weighed on the market for more than two years.
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Publish Date:07/December/2016 | 10:59