oil market
-
Iran downplays chances of oil deal, UAE keen on freeze
EghtesadOnline: Iran downplayed on Monday the chances of OPEC and non-OPEC oil producers clinching an output-restraint deal in Algeria this week even though several other members of the group…
-
Saudis Willing to Act on ‘Critical’ Oil Market, Algeria Says
EghtesadOnline: Saudi Arabia, the world’s biggest oil exporter, has offered to cut its output to January levels, Algeria’s energy minister said as he prepared to host a meeting of OPEC producers…
-
Oil Speculators Abandon Hope OPEC Reaches Supply Agreement
EghtesadOnline: Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this…
-
OPEC Under Pressure to Act in Algiers as Surplus Triples
EghtesadOnline: As OPEC prepares to meet in Algiers next week, the oil market is reminding the group’s members what’s at stake if they fail to reach a deal.
-
Ecuador hopes OPEC will reach agreement in Algeria, warns of risks
EghtesadOnline: Ecuadorean President Rafael Correa said on Saturday he hopes OPEC countries will reach an agreement to stabilize the oil market at the upcoming meeting in Algeria, warning of…
-
U.A.E. Warns OPEC Against Any Hasty Decision on Oil in Algiers
EghtesadOnline: OPEC must find a “sustainable” way to stabilize oil markets in any agreement its members may reach when they meet next week in Algeria, the United Arab Emirates’ energy minister…
-
Oil bet gone wrong: rusting tankers and rigs clog up Asian waters
EghtesadOnline: Some 15 km (9 miles) from the bustling port of Singapore,a rusting tanker as big as the world's largest aircraft carriers lies idle in a muddy estuary flanked by mangrove trees…
-
Iran Committed to Building Oil-Market Consensus, OPEC Head Says
EghtesadOnline: Iran is committed to building a consensus on stabilizing the oil market between OPEC and non-member countries, the group’s new Secretary-General Mohammed Barkindo said.
-
OPEC Seen Failing to Clinch Oil-Output Deal at Algiers Talks
EghtesadOnline: OPEC probably won’t clinch a deal to limit oil production in Algiers next week as members stay focused on either boosting output or defending their market share, according to…
-
Iran supports any move to stabilize oil market: Rouhani
EghtesadOnline: Iran's President Hassan Rouhani said Tehran supports any move to stabilize the global oil market and lift prices, the Iranian oil ministry news agency SHANA quoted him as saying…
-
Crude Glut Belies Risk From OPEC’s Dwindling Output Cushion
EghtesadOnline: As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages.
-
Algerian oil finds an unlikely home far away in Australia when cheap shipping redraws long established trade routes
The Crazy, Mixed-Up Global Oil Market
EghtesadOnline: From Norway to the Bahamas, from Algeria to Australia. Ultra-low crude prices combined with cheap shipping rates are encouraging a host of exotic new oil trading routes that wouldn't…
-
Oil Bears Dominate Market as Doubt Grows Over Output Limits
EghtesadOnline: The longer OPEC and other producers talk about a ceiling on crude output, the more doubts grow in the market.
-
Iran has right to raise oil output: Algeria
EghtesadOnline: Algerian energy minister lent weight to Iran’s bid to regain market share through stepped-up oil production despite objections from Saudi Arabia.
-
Biggest Oil Traders See Another Year of Pain as Glut Endures
EghtesadOnline: The largest oil traders are anticipating little relief to what has become the worst market slump in a generation.
-
Oil extends gains after data shows huge stock draw
EghtesadOnline: Oil prices extended gains by more than 1.5 percent on Thursday after industry data showed what might be the largest weekly drawdown in crude stocks in over three decades.
-
Oil min: Iran supports every decision to bring stability to oil market
EghtesadOnline: Minister of Petroleum Bijan Zangeneh said on Tuesday that Iran supports every decision of oil producers to bring stability to the oil market.
-
Rouhani Says ‘Vital’ to Restore Pre-Sanctions Oil Output
EghtesadOnline: Iran’s President said he supports efforts by OPEC to stabilize oil prices, while reiterating that the country must restore production lost during years of sanctions.
-
Saudi, Russia Vow Oil Cooperation Without Agreeing to Freeze
EghtesadOnline: The world’s top two crude-oil producers pledged to cooperate to stabilize global markets, while failing to announce any specific measures to bolster prices.
-
Brent extends gains after Russia, Saudi Arabia sign pact
EghtesadOnline: Crude prices extended gains on Tuesday, buoyed after top producers Russia and Saudi Arabia agreed to cooperate on stabilizing the oil market, but a lack of immediate action to…
-
Oil Gains as Saudi Arabia to Make Statement After Russia Talks
EghtesadOnline: Oil gained as Saudi Arabia prepared to make a “significant” announcement following discussions with Russia over promoting market stability.
-
Russia and Saudi Arabia to Work Toward Oil-Market Stability
EghtesadOnline: Saudi Arabia and Russia agreed to work together to ensure oil market stability even as leaders from the world’s two biggest crude producers stopped short of offering detailed…
-
Iran restores pre-sanctions quota serving market stability
EghtesadOnline: Deputy Minister of Petroleum for International Affairs and Trading Amir-Hossein Zamaninia said on Saturday that Iran restores pre-sanctions quota serving stability of the oil…
-
Iran rebukes Saudi Arabia ahead of OPEC meeting
EghtesadOnline: Iran said it is ready to help restore balance to the oil market but did not hold out much hope given that some producers are pumping crude at record levels.
-
Saudis Seen Bolstering Oil Market Defense With Asia Storage
EghtesadOnline: Saudi Arabia is poised to expand use of oil storage tanks in Japan and China, strengthening ties with its two largest Asian buyers as it fends off competitors for market share.
-
Russia Open to Cooperation With OPEC, Minister Tells Al-Awsat
EghtesadOnline: Russia is open for talks with other major oil producers on freezing output as the market is unlikely to balance until next year, Energy Minister Alexander Novak said in an interview…
-
Top Oil Market Embraces Iran Once Again as Asia Imports Jump
EghtesadOnline: The Persian Gulf state boosted exports to major oil consumers in Asia during the first half of this year, after international sanctions that restricted its supplies were eased…
-
Qamsari: Iran Regaining Market Share Without Discount
EghtesadOnline: International Affairs Director of the National Iranian Oil Company Mohsen Qamsari said on Saturday that Iran has regained its share in the oil market without any discount.