Russia and Saudi Arabia agreed to extend into 2019 their agreement to manage the oil market, known as OPEC +, although the two sides have yet to agree on any fresh output cuts.
News ID: 2795 Publish Date : 2018/12/03
Qatar is to leave OPEC next month in order for the Persian Gulf state to focus on gas production, the country’s new Energy Minister Saad al-Kaabi announced in a surprise move on Monday.
News ID: 2794 Publish Date : 2018/12/03
OPEC coalition decisions on further global oil market cooperation will be taken next week amid uncertainty over many factors impacting the industry, including Iranian crude export volumes, but Russian oil producers are ready to adjust their production accordingly, energy minister Alexander Novak said.
News ID: 2786 Publish Date : 2018/12/02
OPEC oil supply has fallen in November from a two-year high due to US sanctions on Iran, a Reuters survey found, although most of the output gap left by Iran was plugged by Saudi Arabia and the UAE in response to calls from US President Donald Trump.
News ID: 2785 Publish Date : 2018/12/02
Oil’s on track for its worst month in a decade on growing fears over a global supply glut that’s been exacerbated by American waivers to Iranian crude buyers.
News ID: 2762 Publish Date : 2018/12/01
Oil prices fell on Tuesday, depressed by record Saudi production even as the kingdom tried to persuade other exporters to agree output cuts ahead of an OPEC meeting next week.
News ID: 2743 Publish Date : 2018/11/28
Brent Crude is expected to average $75.50 a barrel next year, according to an S&P Global Platts survey of 11 top banks and oil brokers, who see OPEC cutting oil production by at least 1 million barrels per day and oil demand growth still healthy despite signs of weakness.
News ID: 2721 Publish Date : 2018/11/27
Oil bounced by around $1 a barrel on Wednesday to claw back some of the previous day’s 6% plunge, lifted by a report of an unexpected decline in US commercial crude inventories and record Indian crude imports.
News ID: 2679 Publish Date : 2018/11/22
Oman, a Persian Gulf producer with 1 million bpd of oil production and not a member of OPEC , is integrating two of its government-owned companies to create one large refining and trading firm.
News ID: 2678 Publish Date : 2018/11/21
Oil prices rose by around 1% on Monday amid expectations that top exporter Saudi Arabia will push producer club OPEC as well as perhaps Russia to cut supply toward the yearend.
News ID: 2663 Publish Date : 2018/11/20
Russian energy minister Alexander Novak said Monday that he plans to discuss a potential output cut in 2019 with oil companies before OPEC /non- OPEC meetings in early December, the Prime news agency reported.
News ID: 2659 Publish Date : 2018/11/19
Crude oil futures were higher during mid-morning trade in Asia Monday as investors digested the possibility of OPEC and its allies cutting oil production in December.
News ID: 2657 Publish Date : 2018/11/19
Saudi Arabia is slashing shipments of crude to the United States, a move that appears calibrated to boost oil prices after a swift and punishing sell-off.
News ID: 2643 Publish Date : 2018/11/18
Oil prices rose on Friday amid expectations of supply cuts from OPEC .US West Texas Intermediate crude oil futures were at $56.84 per barrel, up 38 cents, or 0.7%, from their last settlement. Brent crude oil futures were up 48 cents, or 0.7%, at $67.10 per barrel.
News ID: 2635 Publish Date : 2018/11/17
President Vladimir Putin said he discussed the price of oil with US counterpart Donald Trump when they met in Paris briefly on Sunday, adding that Russia is happy with current prices.
News ID: 2633 Publish Date : 2018/11/17
US shale may be the darling of the oil industry now, but the boom is not going to last, according to the International Energy Agency.
News ID: 2614 Publish Date : 2018/11/15
The Organization of the Petroleum Exporting Countries hasn't been effective in stabilizing oil prices, which have been more dependent on US shale production than the actions of the intergovernmental group, said Malaysian Prime Minister Mahathir Mohammad.
News ID: 2603 Publish Date : 2018/11/14
OPEC will not respond to US pressure to lower oil prices but will seek to maintain a balanced market, UAE energy minister Suhail al-Mazrouei said Tuesday, after President Donald Trump warned the organization on Twitter not to cut crude oil production.
News ID: 2600 Publish Date : 2018/11/14
Oil prices jumped more than 1.5 % on Monday after top exporter Saudi Arabia announced a supply cut in December and other producers also considered reductions heading into 2019.
News ID: 2593 Publish Date : 2018/11/13
Rising global oil supplies, a weaker outlook for global oil demand growth, and a recent $15/bl decline in oil prices have combined to make a compelling argument for the Opec and non-Opec Joint Ministerial Monitoring Committee (JMMC) to recommend a return to production restraints in 2019.
News ID: 2591 Publish Date : 2018/11/11
Condolence message of the Minister of Industry, Mining and Trade following the martyrdom of the President of Iran and his delegation
Condolence message from the CEO of Sangan Steel following the martyrdom of Ayatollah Raisi, the President and his companions
Leader declares five days of national mourning over loss of Raisi, FM
Iran president, FM killed in tragic helicopter crash