Opec
-
Oil Stocks Rise Regardless of Supply Adjustments
EghtesadOnline: OPEC said on Tuesday oil inventories had continued to rise despite the start of a global deal to cut supply and raised its forecast of production in 2017 from outside the group,…
-
Iran leapfrogs Iraq as India's no. 2 oil supplier in February
EghtesadOnline: India's oil imports from Iran rose nearly 17 percent in February from a month earlier as refiners received less crude from key OPEC producers Saudi Arabia and Iraq after an OPEC…
-
Kuwait Becomes First OPEC Nation to Call for Longer Oil Cuts
EghtesadOnline: Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted…
-
OPEC's Best Signal of Success No Longer Looks So Promising
EghtesadOnline: When OPEC announced production cuts last year, the most reliable indicator of oil-market supply started signaling a shortage ahead. Now it’s pointing the other way.
-
Oil prices hit 3-month low as U.S. rig count climbs
EghtesadOnline: Oil prices dropped to their lowest in three months on Monday despite OPEC efforts to curb crude output, dragged down as U.S. drillers kept adding rigs.
-
Falih: No Free Ride for US Shale Producers
EghtesadOnline: Senior Saudi energy officials told top independent US oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising…
-
U.S. shale plots production growth despite OPEC's warning
EghtesadOnline: U.S. shale oil producers are plotting ambitious production growth outside the red-hot Permian Basin in Texas, widening a resurgence that could confound OPEC's strategy to tighten…
-
OPEC's Houston Huddle Deepens Oil Cuts Dilemma
EghtesadOnline: OPEC ministers met with partners and rivals in Houston this week as they try to figure out whether to prolong production cuts. That decision only got harder.
-
Saudi Arabia, Russia Offer United Front on Oil Production Cuts
EghtesadOnline: Saudi Arabia and Russia, the architects of an oil production cut that has stabilized prices, presented a united front on compliance just as rising U.S. inventories have sparked…
-
Oil prices hold steady for third day; eyes on economic data
EghtesadOnline: Oil prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC…
-
IEA Sees Oil Investment Revival After a Two-Year Rout
EghtesadOnline: Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International…
-
IEA Doubles Forecast for New OPEC Oil by 2022 as Iraq Ramps Up
EghtesadOnline: OPEC will increase its production capacity by about twice as much as previously thought, led by expansion in Iran and Iraq, the International Energy Agency said.
-
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…
-
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…
-
Saudi Arabia Oil Tanker Tracking Shows Exports Slide in February
EghtesadOnline: Saudi Arabia’s shipments of crude oil fell last month, indicating OPEC’s biggest producer is continuing to cut supplies by more than it pledged.
-
Barkindo: Worst Over for International Oil Market
EghtesadOnline: OPEC-led oil production cuts have been well supported by all participating countries despite some teething troubles for non-OPEC members, the group's secretary-general, Mohammed…
-
Saudi Arabia wants oil prices to rise to around $60 in 2017 - sources
EghtesadOnline: Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said.
-
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…
-
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.
-
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…
-
OPEC's Pushing for Full Compliance With Oil Cuts, Barkindo Says
EghtesadOnline: Implementation of an agreement between OPEC and other major producers to reduce output has been “very encouraging” and the agreement is on track to reduce the global oil surplus,…
-
Crude prices rise as investors bet big on oil strength
EghtesadOnline: Crude futures rose for a second day on Tuesday, with data showing hedge funds are betting big across oil markets following OPEC production cuts agreed last year.
-
Oil prices flatline as U.S. drilling counters OPEC output cuts
EghtesadOnline: Oil prices held steady on Monday as investors gauged whether an increase in U.S. drilling rigs and record stockpiles would undermine efforts by producers to cut output and bring…
-
Oil down 1 percent despite news OPEC could extend output cut
EghtesadOnline: Oil prices reversed gains to trade nearly 1 percent lower on Thursday but continued to hold in a tight range as the market weighed swelling U.S. inventories against possible renewed…
-
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…
-
OPEC Wins Plaudits for Oil Recovery, Yet Economy Lends a Hand
EghtesadOnline: OPEC may be getting all the credit for reviving the oil market, but it had a little help. While the Organization of Petroleum Exporting Countries did spur a 28 percent recovery…
-
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…
-
OPEC Data Show Iran's Oil Output Within Limits
EghtesadOnline: Iran's crude oil production rose by 50,200 barrels per day in January over the previous month, reaching 3.75 million bpd, OPEC said in its monthly report on Monday, citing secondary…
-
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…
-
$30 Million Increase in Daily Oil Export Income
EghtesadOnline: An agreement between OPEC and non-OPEC producers last year to cut crude supplies has raised Iran's oil revenues by $30 million per day, a deputy oil minister said on Sunday.