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Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs

EghtesadOnline: Oil advanced for a seventh day in New York, the longest gain since December, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as U.S. stockpiles show signs of shrinking.
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Publish Date:12/April/2017 | 08:32

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

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 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

OPEC's Houston Huddle Deepens Oil Cuts Dilemma

EghtesadOnline: OPEC ministers met with partners and rivals in Houston this week as they try to figure out whether to prolong production cuts. That decision only got harder.
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Publish Date:09/March/2017 | 06:09

Saudi Arabia, Russia Offer United Front on Oil Production Cuts

EghtesadOnline: Saudi Arabia and Russia, the architects of an oil production cut that has stabilized prices, presented a united front on compliance just as rising U.S. inventories have sparked doubts about the OPEC and non-OPEC deal.
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Publish Date:08/March/2017 | 05:22

Oil rebounds from recent weakness, still rangebound

EghtesadOnline: Oil prices surged on Friday, as a weaker dollar encouraged buying but investors remained cautious after Russian production figures showed weak compliance with a global deal to cut output.
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Publish Date:04/March/2017 | 05:26

Barkindo: Worst Over for International Oil Market

EghtesadOnline: OPEC-led oil production cuts have been well supported by all participating countries despite some teething troubles for non-OPEC members, the group's secretary-general, Mohammed Barkindo, said on Monday.
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Publish Date:01/March/2017 | 13:52

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 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

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

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

Non-OPEC Delivers More Than a Quarter of Promised Cuts so Far

EghtesadOnline: Russia and Kazakhstan said they’ve met or exceeded their initial goals for trimming oil output, bringing cuts by non-OPEC nations in the first 10 days of this year to more than a quarter of the total pledged a month ago in Vienna.
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Publish Date:11/January/2017 | 04:28

Iran capitalizes on OPEC oil cut to sell millions of barrels - sources

EghtesadOnline: Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.
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Publish Date:09/January/2017 | 13:55