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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

Oil prices fall on rising U.S. crude stocks, OPEC output concerns

EghtesadOnline: Oil prices fell on Wednesday following a reported rise in U.S. crude inventories and an estimate that OPEC may have produced more crude in November than previously thought, potentially undermining a planned output cut.
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Publish Date:14/December/2016 | 24:11

OPEC Deal to Create Oil-Supply Deficit Next Half, IEA Says

EghtesadOnline: Global oil markets will swing from surplus to deficit in the first half of 2017 as OPEC and other producers follow through on an agreement to cut supply, according to the International Energy Agency.
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Publish Date:13/December/2016 | 19:35

Rouhani hails OPEC role, JCPOA achievements

EghtesadOnline: President Hassan Rouhani on Monday praised Iran's recent achievements especially the implementation of the nuclear deal and the country's influential role in recent OPEC talks.
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Publish Date:12/December/2016 | 15:06

Russian Energy Minister Says Oil Cuts to Start in January

EghtesadOnline: Russia’s oil producers have started preparations to meet the nation’s pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said.
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Publish Date:12/December/2016 | 13:54

Oil surges after output cuts, strong dollar weighs

EghtesadOnline: Oil prices jumped to their highest levels in a year and a half on Monday after OPEC and non-OPEC producers agreed to cut oil output to ease a global glut, while the U.S. dollar extended gains before a Federal Reserve meeting this week, at which a rate hike is widely expected.
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Publish Date:12/December/2016 | 05:21

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

Saudis Signal Deeper Cuts After Deal With Non-OPEC Countries

EghtesadOnline: Saudi Arabia signaled it’s ready to cut oil production more than expected, a surprise announcement made minutes after Russia and several non-other OPEC countries pledged to curb output next year.
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Publish Date:11/December/2016 | 05:26

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 Meets With Non-OPEC Counterparts for Oil Cuts Deal

EghtesadOnline: The Organization of Petroleum Exporting Countries is meeting with countries outside the group in Vienna on Saturday to agree on a pact to curb oil supply and drain record global stockpiles.
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Publish Date:10/December/2016 | 13:05

Rouhani stresses need for sustained OPEC consultation for market stability

EghtesadOnline: President Hassan Rouhani in a telephone conversation with his Venezuelan counterpart President Nicolas Maduro on Thursday said that continuation of consultation and cooperation among OPEC member states is necessary for stabilizing market and increasing oil prices.
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Publish Date:08/December/2016 | 22:36

OPEC Ministers See Oil Market Balanced If Non-OPEC Joins Cut

EghtesadOnline: Two of OPEC’s leading ministers said its plan to rebalance the oil market will only work if Russia and other countries outside the group follow through on their commitments to rein in production.
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Publish Date:08/December/2016 | 18:23

207 MPs hail Iran’s successful oil diplomacy

EghtesadOnline: Some 207 members of the Iranian parliament in a statement appreciated 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:07/December/2016 | 24:48

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