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Oil prices rise on expectation of output cut extension

EghtesadOnline: Oil prices rose on Monday as Saudi Arabia's energy minister said an OPEC-led production cut scheduled to end in June would likely be extended to cover all of 2017, although a relentless increase in U.S. drilling capped gains.
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Publish Date:08/May/2017 | 05:08

Iran refreshes consent with oil at $55

EghtesadOnline: Iran has refreshed its consent with the price of oil around $55 per barrel with the country’s Petroleum Minister Bijan Zanganeh stressing that there is already a consensus among producers to keep the prices at the same level by extending the current production cuts.
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Publish Date:07/May/2017 | 24:05

Oil Rout Damps Stock Gains as Bonds, Dollar Slip

EghtesadOnline: Crude plunged to a six-month low, erasing gains sparked by OPEC’s November output agreement, as concerns over a supply glut mounted. Earnings kept U.S. stocks afloat, while Treasuries slid with the dollar.
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Publish Date:04/May/2017 | 21:09

Iran Oil Minister Backs Extension of Crude Supply Cuts

EghtesadOnline: Tehran will support a decision to extend an OPEC-led agreement to cut crude oil supplies and lift sagging prices if other members of the Organization of Petroleum Exporting Countries continue to comply with their planned cuts.
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Publish Date:01/May/2017 | 24:27

Oil prices inch down on high stocks, weak China factories survey

EghtesadOnline: Oil prices edged lower on Monday, undermined by a weak manufacturers survey out of China, and despite talk that OPEC-led crude oil output cuts could be extended when oil producers meet later this month.
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Publish Date:01/May/2017 | 05:14

Saudi Arabia Seen Losing Market Share to Iran, Iraq on Oil Cuts

EghtesadOnline: Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices, according to the head of research at Abu Dhabi Investment Authority.
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Publish Date:27/April/2017 | 05:41

Oil falls on bulging U.S. crude inventories, record global supplies

EghtesadOnline: Oil prices resumed their downward trend on Wednesday as data showed a rise in U.S. crude inventories and record supplies in the rest of the world cast doubt on OPEC's ability to cut supplies and tighten the market.
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Publish Date:26/April/2017 | 06:34

Russia's Oil Cuts Won't Be So Easy If OPEC Deal Is Extended

EghtesadOnline: For Russian oil companies, the historic agreement to boost prices by cutting output in conjunction with the Organization of Petroleum Exporting Countries was an easy win. Extending the deal will be less straightforward.
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Publish Date:25/April/2017 | 18:11

Iranian Crude Oil at $53 Per Barrel

EghtesadOnline: Iran's crude oil traded above $53 a barrel in the week to April 14, reflecting the global confidence in a pact between OPEC and non-OPEC producers to slash supplies to boost flagging oil prices .
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Publish Date:24/April/2017 | 09:38

Oil recovers lost ground, but market remains under pressure

EghtesadOnline: Oil prices recovered ground on Monday following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains.
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Publish Date:24/April/2017 | 05:53

OPEC Arab Producers Pushing for $60 Oil

EghtesadOnline: Some of OPEC’s biggest oil producers, including Saudi Arabia, are now targeting $60 a barrel as the level where they want to push crude prices, OPEC officials said, signaling they will support additional production cuts next month.
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Publish Date:17/April/2017 | 08:44

Oil falls after failed North Korean missile test, U.S. rig count gains

EghtesadOnline: Crude oil fell in quiet trading on Monday, after the three-day Easter break, on signs the United States is continuing to add output, undermining OPEC efforts to support prices, and as the market digested North Korea's failed missile launch on Sunday.
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Publish Date:17/April/2017 | 05:26

Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs

EghtesadOnline: Oil advanced for a seventh day in New York, the longest gain since December, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as U.S. stockpiles show signs of shrinking.
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Publish Date:12/April/2017 | 08:32

Markets on Edge as US Hits Syria

EghtesadOnline: Most world stock indexes fell Friday while oil prices rose after the US fired missiles at Syria during President Donald Trump's first meeting with China's president, leaving investors on edge.
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Publish Date:08/April/2017 | 05:16