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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 prices hold steady for third day; eyes on economic data

EghtesadOnline: Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members.
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Publish Date:07/March/2017 | 05:42

IEA Sees Oil Investment Revival After a Two-Year Rout

EghtesadOnline: Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International Energy Agency said.
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Publish Date:07/March/2017 | 05:13

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

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

Crude prices rise as investors bet big on oil strength

EghtesadOnline: Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year.
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Publish Date:21/February/2017 | 05:35

Oil prices flatline as U.S. drilling counters OPEC output cuts

EghtesadOnline: Oil prices held steady on Monday as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring the market into balance.
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Publish Date:20/February/2017 | 05:27

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

OPEC Wins Plaudits for Oil Recovery, Yet Economy Lends a Hand

EghtesadOnline: OPEC may be getting all the credit for reviving the oil market, but it had a little help. While the Organization of Petroleum Exporting Countries did spur a 28 percent recovery late last year by announcing production cuts, supply isn’t the only factor buoying the market: demand repeatedly beat expectations in 2016, and is set to surprise again.
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Publish Date:16/February/2017 | 20:09

OPEC Data Show Iran's Oil Output Within Limits

EghtesadOnline: Iran's crude oil production rose by 50,200 barrels per day in January over the previous month, reaching 3.75 million bpd, OPEC said in its monthly report on Monday, citing secondary sources.
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Publish Date:15/February/2017 | 05:49

$30 Million Increase in Daily Oil Export Income

EghtesadOnline: An agreement between OPEC and non-OPEC producers last year to cut crude supplies has raised Iran's oil revenues by $30 million per day, a deputy oil minister said on Sunday.
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Publish Date:13/February/2017 | 06:25

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

Iran takes market share from OPEC rivals

EghtesadOnline: Iran’s crude oil and condensate exports rose three percent month-on-month in January as it continued to regain market share, widening its appeal among refiners around the globe in the process.
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Publish Date:11/February/2017 | 09:34

Oil rises on 90 percent compliance on OPEC output deal

EghtesadOnline: Oil prices rose more than 1 percent on Friday after the International Energy Agency (IEA) reported record initial compliance by OPEC members implementing last year's landmark deal to curb output in an effort to prop up global oil prices.
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Publish Date:10/February/2017 | 24:37

Investors Have Never Loved OPEC So Much as It Sticks to Cuts

EghtesadOnline: Investors are betting big that OPEC’s cuts are real. Money managers are the most bullish ever on West Texas Intermediate crude for a second week as signs show OPEC and other nations are slashing production.
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Publish Date:06/February/2017 | 06:06