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A Fit U.S. Shale Industry Challenges OPEC Once Again

EghtesadOnline: When the who’s who of the oil industry met a year ago in Houston, Saudi Arabia’s energy minister had harsh words for U.S. shale drillers struggling with the worst price crash in a generation.
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Publish Date:04/March/2017 | 04:56

Man Who Moved Oil With His Words Won't Talk About It Anymore

EghtesadOnline: For more than two decades, the oil market hung to Ali al-Naimi’s every word -- whether he was taking a characteristic stroll at dawn on Vienna’s Ringstrasse, hurrying through a hotel lobby after a conference, or dodging throngs of reporters at an OPEC meeting.
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Publish Date:02/March/2017 | 11:14

Funds prepare $2 billion oil market play as supply tightens

EghtesadOnline: Passive investment funds are poised to shift an estimated $2 billion from far-term to near-term crude futures over the next week, anticipating an energy market rally as a historic OPEC output cut slashes supply.
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Publish Date:27/February/2017 | 06:37

Oil Prices Slip 1 Percent

EghtesadOnline: Oil prices fell about 1% on Friday as worries about rising US supplies outweighed OPEC pledges to boost compliance with output curbs.
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Publish Date:26/February/2017 | 13:11

Crude Oil Could Plunge to as Low as $30 a Barrel

EghtesadOnline: Crude prices could plunge toward $30 a barrel -- a rout of about 40 percent from current levels -- unless OPEC extends production cuts that are propping up the market, ABN Amro Bank NV said.
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Publish Date:22/February/2017 | 04:55

Kuwait Says OPEC Leaning on Non-Members to Cut More Oil Output

EghtesadOnline: OPEC is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut, Kuwait’s oil minister said.
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Publish Date:16/February/2017 | 20:11

Oil Prices Rise Above $56

EghtesadOnline: Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year.
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Publish Date:15/February/2017 | 11:40

Iraq Oil Flow to Slump as Maintenance Helps With OPEC Cut Pledge

EghtesadOnline: Iraq’s oil exports are poised to decline to a seven-month low in March as ongoing maintenance at some of its biggest fields coincides with a seasonal slump in shipments, potentially helping the country to meet a pledge to OPEC that it would restrict crude supply.
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Publish Date:14/February/2017 | 05:04

Oil overhang points to need for extended OPEC output cuts

EghtesadOnline: An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short of achieving its objective of rebalancing the market.
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Publish Date:10/February/2017 | 13:04

OPEC figures show over 90 percent compliance with supply cut: sources

EghtesadOnline: OPEC has delivered over 90 percent of pledged oil output curbs in January, according to figures the exporter group uses to monitor its supply, making a strong start in implementing its first production cut in eight years.
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Publish Date:10/February/2017 | 24:43

OPEC Output Cuts End Big Oil’s Trading Bonanza

EghtesadOnline: The oil-trading boom that cushioned the profits of Royal Dutch Shell Plc and BP Plc through the price slump of 2015 and early 2016 is over.
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Publish Date:10/February/2017 | 11:53

OPEC, non-OPEC producers end JMMC meeting

EghtesadOnline: The First Meeting of the Joint OPEC-Non-OPEC Ministerial Monitoring Committee (JMMC) concluded in Vienna after it issued a statement on Sunday.
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Publish Date:23/January/2017 | 14:33

Iran raising output by 90,000 bpd on OPEC decision

EghtesadOnline: Based on the OPEC 171st regular meeting approval, Iran is increasing its oil production by 90,000 barrels per day, Deputy Head of National Iranian Oil Company for Development and Engineering Affairs said.
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Publish Date:23/January/2017 | 14:31

OPEC, Russia Meet for First Check on Oil-Cuts Progress

EghtesadOnline: Representatives of OPEC and several other major oil producers are arriving in Vienna for their first meeting to monitor compliance with an agreement to cut output.
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Publish Date:21/January/2017 | 14:46

Saudi Oil Shipments Soared Ahead of OPEC Production Cut

EghtesadOnline: Saudi Arabia’s crude exports surged to a 13 1/2-year high in November, just before it led global producers in restricting supplies to curb the worst glut in decades.
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Publish Date:20/January/2017 | 11:55

Saudi Oil Output Drops Under OPEC Quota Close to Two-Year Low

EghtesadOnline: Saudi Arabia has reduced oil production to less than 10 million barrels a day, below its targeted level, and will consider renewing its pledge to cut crude output in six months, Energy Minister Khalid Al-Falih said.
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Publish Date:14/January/2017 | 14:33

Oil rises on China demand forecast, but ample supplies hold prices back

EghtesadOnline: Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies.
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Publish Date:12/January/2017 | 09:35