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Saudi Arabia ‘committed to oil market stability’Saudi Arabia remains committed to supporting the stability of oil markets, benefiting producers and consumers alike, and to sustaining growth in the global economy, said an official from the kingdom’s Ministry of Energy, Industry, and Mine More… |
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Oil supply disruptions possible in 2018: BarclaysIt has been relatively smooth sailing for global energy markets in 2017, with supply disruptions at a historical low, but that might change in 2018, said British bank Barclays in its latest energy report. The discovery of a More… |
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Adnoc to cut October oil supplies by 10pcThe Abu Dhabi National Oil Company (Adnoc) said it would cut its October 2017 crude supplies by 10 per cent across its three export grades: Murban, Das and Upper Zakum, to meet commitments under an Opec deal to curb output. More… |
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Non-Opec countries ‘will raise supply in 2018’The oil producing countries outside Opec will increase their supply of oil produced in 2018 by 1.1 million barrels per day in comparison with the level of 2017 to 58.87 million barrels per day, a report said. That is slightly lowe More… |
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Oil market likely to slide into deficit in H1: IEAIf Opec maintains its current production levels to June when the Vienna output deal expires, there will be a market deficit of 0.5 million barrels per day (bpd) for the first half of 2017, assuming, of course, nothing changes elsewhere in supply More… |
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Oil market likely to slide into deficit in H1: IEAIf Opec maintains its current production levels to June when the Vienna output deal expires, there will be a market deficit of 0.5 million barrels per day (bpd) for the first half of 2017, assuming, of course, nothing changes elsewhere in supply More… |
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Houthis seize tankers in Yemen port over payment rowAuthorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to im More… |
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Opec sees more oil supply from rivals in 2017Opec raised its forecast of oil supplies from non-member countries in 2017 as new fields come online and US shale drillers prove more resilient than expected to cheap crude, pointing to a larger surplus in the market next year. De More… |
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Oil prices fall as supply outlook improvesOil prices fell in early trade on Thursday, with Brent futures struggling to defend $50 per barrel as fears over strike outages in Norway faded and as Nigeria's production improved. International Brent crude oil futures were t More… |
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Opec sticks to output policies as global glut growsOpec maintained its policy of pumping near-record volumes of oil at a meeting on Friday, according to sources at the group, taking no steps to reduce one of the worst crude gluts in history which has driven down prices. The group, More… |
