oil Supply

OPEC Output Drops Further in February

EghtesadOnline: OPEC oil supply fell to a four-year low in February, a Reuters survey found, as top exporter Saudi Arabia and its Persian Gulf Arab allies over-delivered on the group’s supply…
2019-03-03 11:38
Oil Market Forecasters Bearish on 2019

EghtesadOnline: The three most closely watched oil market forecasters are all bracing for a significant upsurge in non-OPEC supply growth in 2019 but differ on the extent that global oil supply…
2019-02-17 12:18
Ahvaz Gas Turbine Restoration Boosts Oil Supply by 750K bpd

EghtesadOnline: Experts of the National Iranian Oil Company have restored a dilapidated gas-powered turbine in Ahvaz pumping station, Khuzestan Province, which has boosted the transfer of crude…
2018-08-12 06:59
As Trump pulls out of Iran deal, Asia grapples with impact on oil supplies

EghtesadOnline: Asia’s petroleum refiners are seeking alternative supplies as they prepare for renewed U.S. sanctions against major oil exporters amid a tight market.
2018-05-09 05:34
Oil prices rise on signs of tightening market

EghtesadOnline: Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States.
2017-08-22 07:39
OPEC’s Long-Sought Success Spoiled by 2018 Oil Supply Worry

EghtesadOnline: Oil investors are already worrying over the potential fallout when OPEC’s deal to cut output expires, marring emerging signs that the accord to shrink a glut is finally succeeding.
2017-08-15 10:33
OPEC Finally Catches a Break

EghtesadOnline: The key sign of OPEC’s success may finally be here. Since the Organization of Petroleum Exporting Countries embarked on its strategy to clear a global glut, analysts from Goldman…
2017-08-12 06:24
Stocks Fall, Dollar Sinks as Politics Take a Toll

EghtesadOnline: U.S. stocks sank Friday and the euro climbed to its highest level against the dollar since January 2015 as investors assessed an investigation into U.S. President Donald Trump…
2017-07-22 04:33
Oil prices stable as strong demand meets ongoing supply glut

EghtesadOnline: Oil prices were stable on Tuesday, supported by strong consumption but weighed by ongoing high supplies from producer club OPEC and also the United States.
2017-07-18 05:32
oil up 1 percent, posts weekly gain of 5 percent

EghtesadOnline: Oil rose 1 percent on Friday, boosted as U.S. crude producers added only two rigs in the latest week and on signs of increased Chinese demand, but trading was volatile as global…
2017-07-15 04:57
Iran Crude Prices Up, Exports Above 2 mbpd

EghtesadOnline: Iran's crude oil traded at about $43 per barrel in the week to June 30 amid concerns about rising US crude inventories and limited impact of an OPEC-led scheme to reduce supplies…
2017-07-10 08:23
Oil recovers some losses but market still under pressure

EghtesadOnline: Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and…
2017-07-10 05:41
Oil dips on OPEC supply rise, but political risk supports

EghtesadOnline: Oil dipped on Wednesday, pulled down by another rise in OPEC supplies despite a pledge to cut production, but geopolitical tensions in the Korean peninsula and the Middle East…
2017-07-05 05:28
MP Sees Bleak Outlook for Global Crude Market

EghtesadOnline: A reinvigorated shale oil industry and higher supplies from other producers will continue to keep prices in check, Hossein Amiri-Khamkani, a member of Majlis Energy Commission,…
2017-07-03 09:16
Oil prices rise on first drop in U.S. drilling in months

EghtesadOnline: Oil prices rose on Monday, lifted by the first fall in U.S. drilling activity in months, although gains were capped by reports of rising OPEC output last month even as the group…
2017-07-03 04:43
Stocks Are Ignoring Oil's Bear Market

EghtesadOnline: The bear market in crude in many ways resembles its more severe predecessors from 2014 and 2016: oil prices plummeting, non-U.S. producers floundering to keep supply at bay and…
2017-06-24 04:55
Oil prices hold near seven-month lows, glut keeps dragging

EghtesadOnline: Oil markets held around seven-month lows on Tuesday as investors focused on persistent signs of rising supply that are undermining attempts by OPEC and other producers to support…
2017-06-20 05:34
Oil prices dip on further rise in U.S. drilling, demand slowdown

EghtesadOnline: Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production…
2017-06-19 04:37
Crude Falls for Third Week as Glut Persists After OPEC Cuts

EghtesadOnline: Oil fell for a third week as rising supplies from the U.S. to Nigeria to Libya showed that OPEC is still struggling to clear a global glut.
2017-06-10 06:43
Oil Slips as Gulf Diplomatic Clash Seen to Have Limited Impact

EghtesadOnline: Oil dropped to the lowest level in more than three weeks as the market refocused on glut concerns after a diplomatic clash involving Saudi Arabia and Qatar was seen as having…
2017-06-06 08:35
Expert Links OPEC Supply Cut Deal to Political Concord

EghtesadOnline: Had OPEC producers not compartmentalized political disagreements from economic issues, they would not have succeeded in extending the oil production cut deal for nine more months…
2017-05-29 05:53
Oil falls as U.S. drilling undermines drive to tighten markets

EghtesadOnline: Oil prices fell on Monday as a relentless rise in U.S. drilling undermined an OPEC-led push to tighten supply.
2017-05-29 05:25
Cheer Up, OPEC: Oil Price Slump May Yet Prove to Be ‘Knee Jerk’

EghtesadOnline: Saudi Arabia’s Energy Minister Khalid Al-Falih said he had no interest in the “knee jerk” reactions of the oil market when crude prices collapsed on Thursday as he sought to explain…
2017-05-27 03:49
OPEC Insiders Reel After Key Minister Is Fired During Their Meeting

EghtesadOnline: As OPEC ministers gathered in Vienna Thursday to agree a nine-month extension of their oil-supply pact, the man credited with bringing about the landmark deal learned from a news…
2017-05-27 03:46
OPEC Committee Recommends Nine-Month Oil Cuts Extension

EghtesadOnline: OPEC and its allies came one step closer to agreeing to extend their oil supply deal after a ministerial committee recommended another nine months of cuts.
2017-05-24 13:20
Oil Climbs With Asia Stocks on Supply Speculation

EghtesadOnline: Crude oil climbed toward $51 a barrel and Asian stocks advanced, helped by a rise in energy producers amid speculation cuts to crude supplies will be extended further. The yen…
2017-05-22 05:05
Oil dips on rising U.S. crude inventories, defies expected supply cut extension

EghtesadOnline: Oil prices fell on Wednesday after data showed an increase in U.S. crude inventories, stoking concerns that markets remain oversupplied despite efforts by top producers Saudi…
2017-05-17 08:43
Saudi Arabia and Russia Signal Oil-Cuts Extension Into 2018

EghtesadOnline: Saudi Arabia and Russia signaled they could extend production cuts into 2018, doubling down on an effort to eliminate a supply surplus just as its impact on prices wanes.
2017-05-09 04:08
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…
2017-05-04 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…
2017-05-01 12:27