Saturday 22 November 2014
 
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Opec

Opec reviews oil outlook in start to talks on glut

A panel of national representatives reviewed Opec's oil market outlook for 2015 this week, Opec sources said, preparing the ground for a policy-setting meeting next week that will decide how to address a looming oversupply of crude.

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Oil rises to $81 on China rate cut, possible Opec move

Brent crude oil rose to near $81 a barrel on Friday after China cut interest rates and on speculation that Opec could agree next week to reduce oil production. China's central bank cut its benchmark interest rates for the firs

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Saudi oil policy uncertainty unleashes speculation

If Saudi Oil Minister Ali Al Naimi wants to stop speculation spreading before a crucial Opec meeting next week, it's too late.   Al Naimi's intervention last week after a two-month silence failed to addre

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Opec needs to cut output by up to 1 mbpd: delegate

The Organization of the Petroleum Exporting Countries (Opec) needs to cut its oil output by up to 1 million barrels per day (mbpd) at its meeting next week, a delegate from one of Opec's smaller producers said, as oil prices that have slid

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Oil steady below $79 as divisions in Opec grow

Brent crude held steady below $79 a barrel on Wednesday as data showed Saudi Arabia increased crude exports in September despite signs of an oversupplied market and divisions between Opec members seemed to grow ahead of a meeting next week.

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Saudi crude oil exports edge up to top 6.5m bpd

Opec heavyweight Saudi Arabia's crude oil exports edged up in September by around 59,000 barrels per day (bpd) while volumes used by domestic refineries remained high, official data showed on Tuesday. The world's top oil e

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Iraq eyes 2015 budget on $80 per barrel oil price

Opec producer Iraq expects to base its 2015 budget on an oil price of $80 per barrel, Oil Minister Adel Abdel Mehdi told parliament on Monday. Oil prices have fallen to below $80 on abundant and weak demand from $115 a barrel in J

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Iran slams oil producers for not cutting output

Iran's oil minister accused some countries on Sunday of making up excuses to justify their refusal to stabilise prices by cutting output, a possible reference to Saudi Arabia as a Saudi official insisted the issue should be left to market fo

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Iraq oil exports steady despite unrest

Iraq's current southern oil output and export levels, given by the country's oil minister yesterday, indicate that fighting and unrest has not derailed an expansion of supplies from Opec's second-largest producer. The

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G20 targets new global energy body

Leaders at the G20 Summit are seeking to lay the foundations for a new global energy trade regime to help ensure open markets and prevent oil and gas supplies being used as tools of foreign policy, the Australian newspaper reported on Saturday.

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