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IEA Says $65 Oil 'Ambitious'

EghtesadOnline: Despite a recent OPEC agreement to cut oil production and boost prices, it is unrealistic to expect that the commodity will reach $65 a barrel in the near term, an analyst at the Paris-based International Energy Agency told CNBC.
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Publish Date:04/February/2017 | 10:03

Oil prices dip as rising U.S. supplies offset OPEC cuts

EghtesadOnline: Oil dipped on Wednesday, weighed down by ongoing high supplies despite an OPEC-led production cut, but prices remained within a narrow trading band that has been in place since late January.
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Publish Date:01/February/2017 | 05:27

Oil extends declines on rising U.S. output

EghtesadOnline: Oil prices extended declines on Monday, dragged down by signs of growing output in the United States that could partly offset output cuts by OPEC and other producers.
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Publish Date:30/January/2017 | 05:45

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 eases on rising U.S. inventory, market looks to EIA data

EghtesadOnline: Oil edged lower on Wednesday as expectations of an increase in U.S. inventories weighed on the market, offsetting bullish momentum from output cuts announced by OPEC and other producers.
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Publish Date:25/January/2017 | 06:58

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

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

Oil firms after producer meeting, but high U.S. output weighs

EghtesadOnline: Oil edged up on Monday on statements over the weekend from OPEC and other producers that they have been successfully implementing output cuts, but gains were limited by a surge in U.S. drilling.
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Publish Date:23/January/2017 | 05:14

OPEC Shrugs Off Threat of U.S. Cutting Oil Imports

EghtesadOnline: OPEC’s two biggest suppliers to the U.S. shrugged off a vow by President Donald Trump to end dependence on the group’s oil, saying the world’s biggest economy would continue to need crude from abroad.
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Publish Date:23/January/2017 | 04:47

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

OPEC Reports Slight Rise in Iran's Dec. Oil Output

EghtesadOnline: Iran slightly boosted its crude production last month ahead of a supply-cut deal that came into force on Jan. 1, OPEC said in its monthly report this week.
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Publish Date:21/January/2017 | 05:19

OPEC sees market stability in 2017, Venezuela aims for $70 price

EghtesadOnline: OPEC Secretary-General Mohammed Barkindo forecast on Monday that stability would return to oil markets this year while price hawk Venezuela said it hoped its crude basket would rise to $70 in coming months.
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Publish Date:17/January/2017 | 05:07

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