Opec
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Kuwait: Iran Showing Good Coop. With OPEC
EghtesadOnline: Iran will probably be allowed to keep its oil production unchanged if OPEC decides to extend its six-month agreement on output cuts beyond June, Kuwaiti Oil Minister Issam Almarzooq…
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Iran adheres to its commitments to OPEC: oil minister
EghtesadOnline: Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian oil minister Bijan Zanganeh said.
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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…
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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,…
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Most oil producers want extension of output cuts: Iran minister
EghtesadOnline: Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as…
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Saudi Arabia Likely to Back Extending Oil Output Cuts
EghtesadOnline: Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal…
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Oil exporting countries deem Iran's economy as significant
EghtesadOnline: Iran’s economy has a special place among oil exporting countries, said Iran's ambassador to Bosnia-Herzegovina Mahmoud Heidari on Wednesday.
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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…
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Oil Spread That Rules Trading Flow Seen Aiding OPEC's Rivals
EghtesadOnline: A crude-price spread that rules over the flow of supply to the world’s biggest oil market will probably favor producers outside the Middle East at least until OPEC meets next…
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Brent Hits One-Month High
EghtesadOnline: Oil hit a one-month high near $55 a barrel on Wednesday as a drop in US crude inventories raised hopes that OPEC-led supply restraint is clearing a glut, while an outage at a…
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OPEC's Barkindo Sees Progress in Oil Cuts as Stockpiles Shrink
EghtesadOnline: Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad…
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Oil Caps Biggest Weekly Gain in 2017 as OPEC Eyes Deal Extension
EghtesadOnline: Oil capped its biggest weekly increase this year amid speculation OPEC will extend its deal to curb output and ease a global glut.
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Oil Gains as Libyan Crude Drop Offsets What OPEC Curbs Couldn't
EghtesadOnline: Oil rose after a pipeline halt reduced output in OPEC member Libya, countering concerns that a U.S. surplus shows little sign of diminishing.
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Oil rises on Libyan supply disruptions, likely OPEC output cut extension
EghtesadOnline: Oil prices on Wednesday extended gains from the previous session, lifted by supply disruptions in Libya and expectations that an OPEC-led output reduction will be extended into…
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Oil Speculators Can't Dump Rally Bets Fast Enough Amid Glut
EghtesadOnline: The bullish sentiment following OPEC’s deal is almost all gone. Hedge funds haven’t been so skeptical on rising West Texas Intermediate crude prices since Nov. 29, the day before…
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OPEC, non-OPEC to look at extending oil-output cut by six months
EghtesadOnline: A joint committee of ministers from OPEC and non-OPEC oil producers has agreed to review whether a global pact to limit supplies should be extended by six months, it said in a…
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OPEC Cuts Pad Wallets of North American Heavy Oil Producers
EghtesadOnline: OPEC’s supply cuts are providing a windfall for producers of heavy crude from Western Canada and the Gulf of Mexico.
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Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized
EghtesadOnline: Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow and steady pace…
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Oil Falls Amid Record U.S. Stockpiles, Upcoming Producer Talks
EghtesadOnline: Oil dropped as U.S. crude supplies rose to an all-time high while investors await a meeting between OPEC and its allies that may signal whether they’ll extend output curbs.
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Oil Drops for Week on U.S. Supplies Before OPEC, Allies Meet
EghtesadOnline: Crude oil had its third weekly loss in a month as OPEC and its allies prepared to meet for a review of their production cuts, while swelling U.S. stockpiles indicated the measures…
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OPEC Be Warned: Russia Battens Down the Hatches for Oil at $40
EghtesadOnline: Perhaps the Bank of Russia knows something the world doesn’t. As the Organization of Petroleum Exporting Countries and its allies prepare to meet for a review of their production…
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OPEC, Allies Meet as Oil Market Warns Them: Job's Not Done
EghtesadOnline: OPEC and allies reviewing the impact of their oil cuts this weekend face a market with an unambiguous message: their work is far from done.
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Saudi exports to U.S. to fall by 300,000 barrels per day in March - official
EghtesadOnline: Saudi Arabia's crude exports to the United States in March will fall by around 300,000 barrels per day from February, in line with OPEC's agreement to reduce supply, a Saudi energy…
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OPEC leans toward oil cut extension, but non-members need to be in: sources
EghtesadOnline: OPEC oil producers increasingly favor extending beyond June a pact on reducing crude supply to balance the market, sources within the group said, although Russia and other non-members…
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U.S. supply concerns keep oil prices under pressure
EghtesadOnline: Oil prices slipped on Monday despite news that OPEC was supportive of extending a six-month deal to cut output as investors continue to grapple with worries about growing U.S.…
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Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts
EghtesadOnline: Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market.
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Iran to keep oil cap at 3.8 million barrels a day in second half 2017
EghtesadOnline: Iran will keep its oil production cap at 3.8 million barrels per day in the second half of 2017, the oil minister said on Tuesday, provided other OPEC members stick to the output…
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Saudi Arabia Says Oil-Supply Cuts May Be Extended If Needed
EghtesadOnline: OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia’s Energy Minister said.
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Saudi ‘Mission Impossible’ Makes Longer OPEC Oil Cuts Inevitable
EghtesadOnline: Saudi Arabia has set a near-impossible target to end the current round of OPEC oil-production cuts, indicating that a policy rollover into the second half of the year is a near…
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IEA says oil market could tilt into deficit in the first half if OPEC sticks to cuts
EghtesadOnline: Global oil inventories rose for the first time in January as the market grappled with a swell in production last year, but if OPEC maintains its output cuts, demand should overtake…