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Oil steadies on doubts output cut will end global glut

EghtesadOnline: Oil prices steadied on Wednesday as investors waited to see if OPEC and Russia would deliver promised production cuts designed to end a supply overhang that has weighed on the market for more than two years.
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Publish Date:07/December/2016 | 10:59

U.A.E. Oil Minister Says OPEC Will Act Again If Prices Decline

EghtesadOnline: A cut in global oil output by 1.8 million barrels a day would be enough to balance the crude market, and OPEC is ready to take further action if prices fail to stabilize, United Arab Emirates Energy Minister Suhail Al Mazrouei said in Abu Dhabi.
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Publish Date:07/December/2016 | 09:50

OPEC Seeks Cuts From Nations Pumping a Fifth of Oil

EghtesadOnline: OPEC has invited 14 other crude producers, who together pump about a fifth of the world’s oil, to talks this week in Vienna aimed at securing wider cooperation with production cuts.
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Publish Date:06/December/2016 | 16:27

Oil dips as OPEC, Russian output rises ahead of production cut

EghtesadOnline: Oil prices slipped on Tuesday as crude output rose in virtually every major export region despite plans by OPEC and Russia to cut production, triggering fears that a fuel glut that has dogged markets for over two years might last well into 2017.
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Publish Date:06/December/2016 | 10:48

200 MPs hail Iran’s successful oil diplomacy

EghtesadOnline: 200 members of the Iranian parliament have signed a letter in appreciation of the Iranian oil diplomacy which resulted in Iran’s gaining its pre-sanction quota in the Organization of Petroleum Exporting Countries (OPEC).
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Publish Date:05/December/2016 | 24:20

Oil Market Turns Upside Down as Shale Rushes to Hedge Post-OPEC

EghtesadOnline: U.S. shale oil companies are using the post-OPEC rally to hedge their oil price risk for next year and 2018 above $50 a barrel, bankers, merchants and brokers said, pushing the forward oil curve upside down.
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Publish Date:05/December/2016 | 11:24

Iran's oil minister to attend OPEC, non-OPEC meeting in Vienna: SHANA

EghtesadOnline: Iran's oil minister Bijan Namdar Zanganeh will attend the meeting between OPEC and non-OPEC members on Dec 10 in Vienna, the ministry's news agency SHANA said on Monday, as the countries try to finalize a global oil output-limiting pact.
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Publish Date:05/December/2016 | 11:05

OPEC says members investing heavily to ensure oil supply

EghtesadOnline: OPEC members are investing heavily to ensure supplies can meet global oil demand, which is likely to continue to rise steadily, the group's secretary general told an energy conference on Monday.
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Publish Date:05/December/2016 | 10:51

Oil tops $55 for first time in 16 months as OPEC deal fuels buying

EghtesadOnline: Brent crude oil prices rose above $55 a barrel on Monday, trading at a fresh 16-month high, as optimism spread about the prospect of a tightening market after OPEC members agreed on a landmark deal to cut production last week.
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Publish Date:05/December/2016 | 10:39

OPEC pegs Iran's share at 3.9mbd

EghtesadOnline: OPEC in its 171st ordinary meeting on Wednesday, November 30, agreed to Iran's share of 3.9 million barrels per day in its total output.
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Publish Date:04/December/2016 | 10:18

Electric Cars Could Take an OPEC-Sized Bite From Oil Demand

EghtesadOnline: A boom in electric vehicles made by the likes of Tesla Motors Inc. could erode as much as 10 percent of global gasoline demand by 2035, according to the oil industry consultant Wood Mackenzie Ltd.
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Publish Date:04/December/2016 | 12:52

Crude enjoys best weekly gain in years

EghtesadOnline: Crude prices have soared after the Organization of the Petroleum Exporting Countries agreed to cut crude output.
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Publish Date:03/December/2016 | 08:08

Oil Jumps Most Since February on OPEC Deal as Treasuries Retreat

EghtesadOnline: Crude oil surged as OPEC ministers forged a deal to reduce production, igniting a rally in global energy stocks. Meanwhile, Treasuries fell and the dollar extended its advance as a private report showed U.S. companies hired faster than was forecast in November.
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Publish Date:30/November/2016 | 21:21

Oil jumps over 8 percent as OPEC finalizes output cut deal

EghtesadOnline: Oil prices soared more than 8 percent on Wednesday to the highest in a month as some of the world's largest producers agreed to curb production for the first time since 2008 in a bid to support prices.
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Publish Date:30/November/2016 | 19:18