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Oil market likely to rebalance this year, says Opec chiefWith the Opec and non-Opec alliance working to eliminate the remaining glut on the oil market amounting to 75 million barrels, the UAE energy minister said stability was slowing returning and the market was likely to rebalance this year. More… |
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Opec committed to reducing inventories: chiefOpec's steely and resolute focus remains on reducing inventories, moving the stock overhang to its five-year average and ensuring sustainable market stability in the years and decades ahead, Opec chief has said. ''The More… |
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Oil market unlikely to rebalance fully by year-end: Total CEOOil demand in 2016 will stay strong, supporting prices, but the market is unlikely to rebalance by the year end, the chief executive of French oil and gas major Total said on Wednesday. Patrick Pouyanne told a French Senate commit More… |
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Limited impact from oil output freeze: IEAA deal to freeze oil production by Opec and non-Opec producers will have a limited impact on global supply and markets are unlikely to rebalance before 2017, the International Energy Agency (IEA) said on Thursday. The IEA, which o More… |
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Sliding oil price 'may hit Middle East projects'The Middle East oil exporting states will probably ride out weak oil prices comfortably, but if oil drops below the price at which they can balance their budgets infrastructure and other projects will slow down, warns More… |
