Tuesday 31 May 2016
 
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Oil output

Opec sees bigger oil glut in 2016 as its output surges

Opec said the global oil market is oversupplied and signalled the glut may increase this year, as surging output from its members makes up for losses from other countries whose production has been hit by a price fall. Supply from

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Oil drops as higher output stokes glut fears

Oil fell on Tuesday as rising output from the Middle East and North Sea renewed concerns about a global supply overhang while economic data painted a negative outlook for the demand outlook. Brent crude futures were trading 44 cen

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Oil drops as higher output stokes glut fears

Oil fell on Tuesday as rising output from the Middle East and North Sea renewed concerns about a global supply overhang while economic data painted a negative outlook for the demand outlook. Brent crude futures were trading 44 cen

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Opec oil output near record high in April

Opec's oil output rose in April to close to the highest level in recent history, a Reuters survey found on Friday, as production increases led by Iran and Iraq more than offset a strike in Kuwait and other outages. Top exporte

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IEA sees biggest non-Opec output fall in 25 years

Crude prices firmed on Thursday after the International Energy Agency (IEA) said 2016 would see the biggest fall in non-Opec production in a generation, helping to rebalance a market dogged by oversupply. IEA chief Fatih Birol sai

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IEA sees biggest non-Opec output fall in 25 years

Crude prices firmed on Thursday after the International Energy Agency (IEA) said 2016 would see the biggest fall in non-Opec production in a generation, helping to rebalance a market dogged by oversupply. IEA chief Fatih Birol sai

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Russia says door not closed for oil output freeze

Russia's oil minister Alexander Novak said on Sunday the country was not closing the door on a global deal to freeze output levels although he was disappointed that no decision had been taken. A deal to freeze oil output by Op

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Doha oil producers meeting ends without a deal

A deal to freeze oil output by Opec and non-Opec producers fell apart on Sunday after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices. The development will revive

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Kuwait cuts oil output; exports unaffected by strike

Kuwait Oil Company (KOC) said on Sunday it had lowered crude output to 1.1 million barrels per day crude (bpd) under a plan to cope with a strike by oil workers, down from its normal production of about three million bpd. In a pos

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Draft Doha agreement would freeze output until October

A draft agreement among oil producers meeting on Sunday in Doha, Qatar says average daily crude oil production in each month would not exceed the level recorded in January this year, according to a copy of the draft seen by Reuters.

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