Sunday 21 December 2014
 
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Output

Despite pain, Opec hawks come round to merits of riding out oil slump

Opec members which backed an output cut at the group's meeting last month are coming around to the view of Saudi Arabia that they need to focus on market share, further reducing the chance of any action to de

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Opec's decision to retain market share, says Kuwait

Kuwait's oil minister said that Opec's decision last month to keep output unchanged was intended to retain market share, even if it meant that it "would negatively affect prices, state news agency

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Bahrain's oil output to grow by 4pc next year

Bahrain's oil output is expected to grow by four per cent next year, according to an expert analysis. However, economic growth is expected to slow to an average of 3.5 per cent over 2015-16, thanks to weaker growth in non-oil activi

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Opec output drops in Nov as Libyan recovery falters

Opec's oil supply in November fell by 340,000 barrels per day (bpd) as a recovery in Libya faltered, a Reuters survey found, although a lack of deliberate cutbacks by Saudi Arabia and other key members underlines their focus on defending mar

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Opec 'is aiming to halt shale oil rise'

Markets on Friday hesitated to follow the slide in crude prices after Opec decided not to cut oil production to counter burgeoning shale energy but causing some deep side effects, economists said. With their precious oil income sl

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Alba expansion 'will help Bahrain economy'

The planned $2.5-billion expansion of Aluminium Bahrain (Alba) will contribute to the kingdom’s national economy and create additional job opportunities for qualified nationals, said Shaikh Khalid bin Abdulla Al Khalifa, Bahrain’s De

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Oil price seen falling to $60 if Opec does not cut output

Oil prices could plunge to $60 a barrel if the Organisation of Petroleum Exporting Countires (Opec) does not agree a significant output cut when it meets in Vienna, market players say.   Brent crude futures have

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Opec keeps oil markets guessing on output move

Oil analysts are putting down markers on the Organisation of the Petroleum Exporting Countries' (Opec) meeting on November 27, when members will consider whether to cut output to shore up prices. Opec members Iran and Venezuel

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Venezuela says Opec to 'increase coordination' in face of oil price fall

Venezuela's Foreign Minister Rafael Ramirez said the Organization of the Petroleum Exporting Countries will increase coordination in the face of the fall in oil prices, the South American government said in a statement, without elaborating

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UAE committed to supplying market with crude needs

The UAE oil minister said the Gulf state was committed to supplying the market‎ with its crude needs and that the Opec member did not have a target for oil prices.   "We will not fall short from meeting

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