tag oil cut

OPEC: Iran's September Oil Output Remains Flat at 3.82mbpd

EghtesadOnline: Iran continues to remain a top performer in a global deal to cut oil supplies as data by OPEC showed the country pump around 3.82 million barrels per day for a second consecutive month in September.
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Publish Date:15/October/2017 | 13:16

Iraq's Crude Exports Hit 2017 High Before OPEC Cuts Extension

EghtesadOnline: Oil tankers shipped the most crude from Iraq in six months in May, when OPEC’s second-biggest producer was negotiating with the group’s other members to persist with supply constraints to shore up the global market.
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Publish Date:03/June/2017 | 24:47

Oversold: Oil traders punish OPEC for promising too much

EghtesadOnline: As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt, a success.
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Publish Date:27/May/2017 | 04:41

Asian imports of Iranian oil rise 27%

EghtesadOnline: Imports of Iranian crude by its four main buyers in Asia rose nearly 27 percent in March from a year earlier as the country took advantage of its exemption from a production cut agreed by OPEC and some other major producers, Reuters reported.
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Publish Date:29/April/2017 | 14:22

Saudi Arabia Likely to Back Extending Oil Output Cuts

EghtesadOnline: Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal discussions.
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Publish Date:13/April/2017 | 09:26

Russia Needs Data on Oil Supply, Markets to Decide on More Cuts

EghtesadOnline: Russia isn’t ready to support a possible extension of oil-supply cuts into the second half of the year, even as more crude producers acknowledge they will probably need to do so to achieve their goals of balancing the market and firming up prices.
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Publish Date:27/March/2017 | 24:59

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 Discusses Extending Oil Cuts by More Than Three Months

EghtesadOnline: OPEC and its allies are discussing extending by more than three months the oil production cuts that expire in March 2018, potentially prolonging them well into the second half of next year in an effort to boost prices, according to people familiar with the matter.
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Publish Date:13/September/2017 | 05:06

U.A.E. Sees OPEC Considering Oil-Cuts Extension in November

EghtesadOnline: OPEC may need to consider extending its oil-cuts agreement when the group meets in November, as crude markets are taking too long to recover, United Arab Emirates Energy Minister Suhail Al Mazrouei said.
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Publish Date:25/July/2017 | 05:01

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

Trump's Bid to Sell U.S. Reserve Oil Could Undermine OPEC Cuts

EghtesadOnline: President Donald Trump has proposed selling off more than half of the U.S. emergency oil stockpile, potentially putting more crude on the global market and undermining OPEC’s efforts to prop up prices.
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Publish Date:24/May/2017 | 13:26

Iran's Maxed-Out Crude Output Eases OPEC Push to Extend Cuts

EghtesadOnline: Iran’s oil industry bounced back from sanctions last year, cranking up output to recover market share from other OPEC producers. Now that its surge has topped out, Iran supports an extension of the group’s cuts to preserve those gains.
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Publish Date:24/May/2017 | 13:23

‘Iran not expecting OPEC call to cut output’

EghtesadOnline: Iran’s Petroleum Minister Bijan Zanganeh says he does not expect the Organization of the Petroleum Exporting Countries (OPEC) to call on the Islamic Republic to reduce its oil production when it meets to discuss extending an oil output deal tomorrow.
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Publish Date:24/May/2017 | 11:06