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Oil markets ‘need to extend output cut deal’Oil markets need to extend the crude oil production cut deal to ensure market stability and reasonable prices, said Suhail bin Mohammed Faraj Faris Al Mazrouei, UAE Minister of Energy and Industry. He noted that reaching an agreem More… |
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Oil likely to hover at around $55 in 2017-2018: IMFThe International Monetary Fund (IMF) expects global oil prices to keep at around $55 per barrel in 2017-2018, according to the latest World Economic Outlook report released on Tuesday. The average price of crude oil amounted to $ More… |
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Opec inches towards production cut targetThe 10 Organization of the Petroleum Exporting Countries (OPEC) members moved closer to full compliance with the landmark production cut agreement signed late last year, as output in the month fell from January levels to average 32.03 million ba More… |
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Opec production cut: Genuine boon or flash in the pan?Will announced cuts in crude production launch an upcycle such as those seen in the 1970s and early 2000s? Or, will the market more closely resemble the lagging prices of the mid-‘80s through the turn of the century? Experts weigh facts an More… |
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Opec deal a tough task, as oil output cut hopes riseOpec will probably revive talks on freezing oil output levels when it meets non-Opec nations next month as top exporter Saudi Arabia appears to want higher prices, according to Opec sources, although Iran, Iraq and Russia present obstacles to a More… |
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Oil falls as Saudi Arabia rules out production cutsOil prices slid in early trading on Wednesday, extending sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in US crude stockpiles. Meanwhile, I More… |
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Oil rebounds on optimism over producers dealCrude oil futures rebounded on Wednesday on investor hopes that a deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. More… |
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Oil rebounds on optimism over producers dealCrude oil futures rebounded on Wednesday on investor hopes that a deal between Saudi Arabia and Russia to freeze oil output at January levels would lead to a wider pact among producers that could eventually see production cuts to support prices. More… |
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Oil slips towards $33 as output cut hopes dimOil prices fell around 3 per cent on Tuesday, dented by worries about the demand outlook and rising supply, while hopes for a deal between Opec and Russia on output cuts faded. Brent for April delivery was down $1.01 at $33.23 a b More… |
