oil cut
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OPEC: Iran's September Oil Output Remains Flat at 3.82mbpd
EghtesadOnline: Iran continues to remain a top performer in a global deal to cut oil supplies as data by OPEC showed the country pump around 3.82 million barrels per day for a second consecutive…
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Oil rises after Iraq signals possible OPEC cut extension
EghtesadOnline: Oil prices rose on Wednesday after Iraq’s oil minister said OPEC and other crude producers were considering extending or even deepening a supply cut to curb a global glut, while…
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OPEC Discusses Extending Oil Cuts by More Than Three Months
EghtesadOnline: OPEC and its allies are discussing extending by more than three months the oil production cuts that expire in March 2018, potentially prolonging them well into the second half…
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U.A.E. Sees OPEC Considering Oil-Cuts Extension in November
EghtesadOnline: OPEC may need to consider extending its oil-cuts agreement when the group meets in November, as crude markets are taking too long to recover, United Arab Emirates Energy Minister…
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Saudi's Falih Sees No Need to Alter Oil-Cuts Deal, Interfax Says
EghtesadOnline: Saudi Arabia doesn’t see any need for changes to the oil-cuts deal agreed on by OPEC and its allies last month in Vienna, Oil Minister Khalid Al-Falih said, according to Interfax.
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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.
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Iraq's Crude Exports Hit 2017 High Before OPEC Cuts Extension
EghtesadOnline: Oil tankers shipped the most crude from Iraq in six months in May, when OPEC’s second-biggest producer was negotiating with the group’s other members to persist with supply constraints…
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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…
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Oversold: Oil traders punish OPEC for promising too much
EghtesadOnline: As OPEC's latest meeting wrapped up in Vienna on Thursday night, ministers congratulated each other on its rare spirit of amity and consensus. The talks were, without a doubt,…
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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…
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Trump's Bid to Sell U.S. Reserve Oil Could Undermine OPEC Cuts
EghtesadOnline: President Donald Trump has proposed selling off more than half of the U.S. emergency oil stockpile, potentially putting more crude on the global market and undermining OPEC’s…
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Iran's Maxed-Out Crude Output Eases OPEC Push to Extend Cuts
EghtesadOnline: Iran’s oil industry bounced back from sanctions last year, cranking up output to recover market share from other OPEC producers. Now that its surge has topped out, Iran supports…
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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.
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‘Iran not expecting OPEC call to cut output’
EghtesadOnline: Iran’s Petroleum Minister Bijan Zanganeh says he does not expect the Organization of the Petroleum Exporting Countries (OPEC) to call on the Islamic Republic to reduce its oil…
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Oil prices stable as market expects extended production cut
EghtesadOnline: Oil prices were stable on Wednesday, supported by confidence that an OPEC-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next…
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OPEC Fails to Clear Global Oil Glut, But Gets More Money Anyway
EghtesadOnline: At first glance, OPEC’s cuts haven’t worked -- global oil inventories remain well above normal levels. But the policy’s made a difference where it really counts: juicing the coffers…
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OPEC on Verge of 9-Month Cuts Extension After Iraq Backing
EghtesadOnline: OPEC and its allies were poised to continue their production cuts for another nine months after Iraq backed an extension, removing one of the last remaining obstacles to an agreement.
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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…
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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…
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China Shares Gain on Spending Program; Crude Jumps
EghtesadOnline: Chinese equities rose as optimism over infrastructure spending offset concerns over the strength of the global economy, while oil surged on expectations for a supply cut.
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Saudis, Russia Favor Extending Oil Output Curbs by 9 Months
EghtesadOnline: Saudi Arabia and Russia said they favor extending oil-output cuts by global producers through the end of the first quarter of 2018 to shrink a market glut. Crude prices jumped.
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Iran Complying With Crude Supply Cut Deal
EghtesadOnline: Iran cut back crude oil production last month in a move that reflects its adherence to a global supply cut deal and OPEC's efforts to shore up prices and restore balance to the…
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Oil gives up earlier gains as rising US output, China concerns weigh
EghtesadOnline: Oil prices gave up earlier gains on Tuesday, as concerns over slowing demand and a relentless rise in U.S. crude output undermined the impact of hopes that OPEC-led production…
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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…
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Saudi Oil Minister Says Output Cuts May Extend Beyond Second Half of 2017
EghtesadOnline: Saudi Arabia’s oil minister said he is confident that an agreement by oil producers to curb output and shrink a market glut will be extended into the second half of the year and…
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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…
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Iran Will Go Along With Whatever OPEC Decides on Crude Cutbacks
EghtesadOnline: Iran will go along with whatever decision OPEC makes at its meeting later this month on whether to extend oil production cuts beyond June, Oil Minister Bijan Namdar Zanganeh said.
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OPEC Runs Out of Options as Bid to Boost Oil Price Fizzles
EghtesadOnline: OPEC’s plan to boost oil prices by cutting production has fizzled, yet it has little choice but to stick with it.
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OPEC Deepens Oil Production Cuts as Laggards Improve Compliance
EghtesadOnline: The Organization of Petroleum Exporting Countries deepened production cuts in April with laggards improving compliance with its historic deal to limit output.
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Oil rebounds on U.S. stocks drawdown, declining OPEC compliance weighs
EghtesadOnline: Crude oil prices bounced back on Wednesday as a decline in U.S. inventories underpinned the market, although a dip in compliance with OPEC efforts to reduce output and near record…