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Oil slips $1 on concerns U.S. production is rising

EghtesadOnline: Oil fell by $1 a barrel on Monday as signs of growing U.S. production outweighed optimism that many other producers, including Russia, were sticking to a deal to cut supplies in a bid to bolster the market.
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Publish Date:09/January/2017 | 13:00

Oil steady in quiet holiday season trade; supply cut deal to kick in Jan 1

EghtesadOnline: Oil prices were little changed on Tuesday in light pre-New Year holiday trading with markets adopting a wait-and-see stance less than a week before the first output cut deal agreed between OPEC and non-OPEC members in 15 years is scheduled to kick in.
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Publish Date:27/December/2016 | 04:49

OPEC Deal Makes Oil Investors Most Bullish Since Slump Began

EghtesadOnline: Investors are the most optimistic on oil since the slump began two and a half years ago. Money managers boosted bets on rising West Texas Intermediate crude prices to the highest level since July 2014 after the Organization of Petroleum Exporting Countries and producers outside the group agreed to coordinate crude production cuts
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Publish Date:19/December/2016 | 06:38

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

OPEC, non-OPEC agree first global oil pact since 2001

EghtesadOnline: OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.
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Publish Date:11/December/2016 | 05:32

OPEC’s Historic Deal Won’t Be Enough to Drain Oil Stockpiles

EghtesadOnline: OPEC is likely to bring the oil market into balance by the middle of next year, but its production cut looks set to fall short of its stated goal of draining the stockpiles that are depressing prices.
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Publish Date:10/December/2016 | 13:10

OPEC, key producers to discuss six-month oil deal

EghtesadOnline: OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Russia lent its support for the plan.
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Publish Date:25/October/2016 | 09:19

OPEC, key producers to discuss six-month oil deal

EghtesadOnline: OPEC will hold talks with non-member oil producers on Wednesday in a bid to hammer out details of a global agreement to cap production for at least six months as Russia lent its support for the plan.
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Publish Date:11/October/2016 | 21:26
Good news for oil producers is bad news at the pump

The Biggest Winners and Losers From OPEC's Oil Deal

EghtesadOnline: The Organization of Petroleum Exporting Countries' agreement to cut production ends two years of Saudi Arabia's pump-at-will policies, which had sunk oil prices to the joy of drivers in the Western world and the consternation of central bankers seeking to stave off deflation. With the reversal of that stance, a whole new set of winners and losers will emerge.
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Publish Date:01/October/2016 | 06:38

With Deal Done, OPEC Faces Hurdles in Making Output Cuts Work

EghtesadOnline: The challenges OPEC will confront trying to limit output were evident just minutes after the group agreed on the new plan. In an angry and sometimes incoherent briefing, Iraq’s oil minister railed against the journalists and analysts who estimate the amount of crude each member produces.
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Publish Date:01/October/2016 | 06:24

Wall Street rallies as OPEC reaches output deal

EghtesadOnline: Wall Street ended higher on Wednesday after an OPEC agreement to limit crude output fueled a rally in oil and more than offset nervousness about a tight race for the U.S. presidency.
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Publish Date:01/October/2016 | 04:20

Iran downplays chances of oil deal , UAE keen on freeze

EghtesadOnline: Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group said they still hoped for steps to tackle a price-eroding glut of crude.
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Publish Date:27/September/2016 | 04:21