OPEC

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OPEC and its allies have formalized their production quotas under their new supply deal, with Saudi Arabia, the world's largest crude exporter, committing to a 322,000 bpd cut from its October level.
News ID: 3058    Publish Date : 2018/12/24

Contrary to initial reports that OPEC will not make public the country quotas in the new production cut deal, the organization now plans to publish a table of each OPEC and non- OPEC individual quotas in an attempt to inject some positive sentiment in a crashing oil market, OPEC ’s Secretary General Mohammad Barkindo wrote in a letter seen by Reuters.
News ID: 3038    Publish Date : 2018/12/23

Record-high freight prices in Suezmax and Aframax markets towards the end of 2018 boosted shipowner earnings after a disappointing start to the year. But net global fleet growth, looming International Maritime Organisation (IMO) regulations and Opec production cuts will challenge tanker markets in the coming six months.
News ID: 3015    Publish Date : 2018/12/21

Iranian ambassador to the UN agencies headquartered in Vienna Kazzem Qaribabadi in a meeting with Director-General of the OPEC Fund for International Development Abdul Hamid al-Khalifa underlined his country's readiness to continue assistance to the OFID to implement developmental projects in other countries.
News ID: 3011    Publish Date : 2018/12/21

Russian energy minister Alexander Novak expects his country's crude oil output in 2019 to be around 555-556 million tons (11.145-11.165 million barrel per day) but said this figure could be revised downwards due to OPEC + agreements to cut production.
News ID: 3002    Publish Date : 2018/12/20

After flooding the US market in recent months, Saudi Arabia plans to slash exports to the world’s largest oil market in the coming weeks in an effort to dampen visible build-ups in crude inventories.
News ID: 2948    Publish Date : 2018/12/17

Russia exported 36.65 million barrels less crude oil in the first ten months of the year, not least because of its participation in the OPEC + pact to reduce global supply.
News ID: 2947    Publish Date : 2018/12/17

OPEC may be about to succeed by accident, again. Unplanned supply losses from members Iran and Venezuela could effectively double the intended cutback of 800,000 bpd OPEC pledged last week, according to the International Energy Agency, Bloomberg reported.
News ID: 2932    Publish Date : 2018/12/16

Oman will cut oil output by 2% from January for an initial period of six months, according to a letter sent to customers of Omani oil by the country’s oil and gas ministry.
News ID: 2912    Publish Date : 2018/12/15

Ageneral cooperation agreement between OPEC and non- OPEC countries will be signed in three months in Saudi Arabia, the UAE energy minister said Tuesday.
News ID: 2894    Publish Date : 2018/12/12

Iranian President Hassan Rouhani stressed Washington's failure to prevent his country's oil exports, expressing pleasure that crude sales have even increased after the US sanctions.
News ID: 2886    Publish Date : 2018/12/11

Iraqi Oil Minister Thamer Ghadhban said on Monday he expected the fall in oil prices to stop and for prices to rise over time, adding that if OPEC had not cut production, prices would have dropped to $45-50 per barrel.
News ID: 2882    Publish Date : 2018/12/11

Brent crude oil futures rose on Monday after OPEC and some non-affiliated suppliers last Friday agreed to a supply cut from January.
News ID: 2880    Publish Date : 2018/12/11

Iranian President Hassan Rouhani lauded the recent resistance shown by the member-states of the Organization of the Petroleum Exporting Countries in their recent meeting in Vienna against Washington's pressures, and described OPEC 's stance as another failure for the US.
News ID: 2878    Publish Date : 2018/12/10

A member of the Iranian parliament said the outcome of the 175th meeting of members of the Organization of the Petroleum Exporting Countries ( OPEC ) was a victory for Iran’s petroleum diplomacy.
News ID: 2875    Publish Date : 2018/12/10

Malaysia will extend its oil production cuts by another six months after the agreement between OPEC and other oil producers to reduce global supply ends this year.
News ID: 2871    Publish Date : 2018/12/10

US shale producers cheered OPEC ’s decision to trim output, a move that sent crude prices higher on Friday, closing at levels that oil executives said would keep their profits flowing.
News ID: 2861    Publish Date : 2018/12/09

Iranian Oil Minister Bijan Zangeneh said Friday that Tehran would be exempt from the oil cuts within the production freeze deal of the Organization of the Petroleum Exporting Countries ( OPEC ) and non-cartel members.
News ID: 2838    Publish Date : 2018/12/08

OPEC concluded its 175th meeting with an accord to remove 1.2 million barrels a day of crude from the market, with non- OPEC allies including Russia taking a 400,000 barrel-a-day share.
News ID: 2836    Publish Date : 2018/12/07

Iranian Oil Minister Bijan Namdar Zanganeh said that Qatar was not one of the problematic oil producers in the OPEC , and called for more examination to find out why the Persian Gulf oil producer has decided to leave the organization.
News ID: 2819    Publish Date : 2018/12/06

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