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
Oil’s set for its longest stretch of declines on record after entering a bear market, with investors awaiting a weekend meeting of OPEC and its allies to discuss output strategy.
News ID: 2568 Publish Date : 2018/11/10
Saudi Arabia and Russia, both of whom have boosted their crude output in recent months, were responsible for a $15/b drop in the price of oil and "should cut at least 1 million b/d instantly", an OPEC delegate told S&P Global Platts.
News ID: 2528 Publish Date : 2018/11/07
Russia’s oil production increased to 11.41 million barrels per day in October from 11.36 million bpd in September, setting a new post-Soviet record high as the largest oil companies, Rosneft and Lukoil, raised their output according to data from Russia’s Energy Ministry.
News ID: 2491 Publish Date : 2018/11/04
Russian Energy Minister Alexander Novak said on Saturday there was no reason for Russia to freeze or cut its oil production levels, noting that there were risks that global oil markets could be facing a deficit.
News ID: 2468 Publish Date : 2018/10/29
UAE has begun to increase oil production in the third quarter and expects further increases through this month and November in line with market requirements, according to a tweet by UAE Energy Minister Suhail Al Mazroui.
News ID: 2436 Publish Date : 2018/10/14
Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Friday.
News ID: 2427 Publish Date : 2018/10/13
Oil markets look ‘adequately supplied for now’ after a big increase in production over the last six months but the oil industry is coming under strain as it copes with increasing global demand, the West’s energy watchdog said on Friday.
News ID: 2421 Publish Date : 2018/10/12
The US Energy Information Administration on Wednesday boosted its Brent and WTI crude oil price forecasts on uncertainty over the impact of the looming re-imposition of US sanctions on Iranian crude exports.
News ID: 2411 Publish Date : 2018/10/10
Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC’s third-largest producer, are declining in the run-up to the re-imposition of US sanctions and as a hurricane moved across the Gulf of Mexico.
News ID: 2402 Publish Date : 2018/10/10
Qatar's energy minister has defended OPEC's oil market strategy, saying a deal between the oil producing group and non-OPEC producers is not aimed at manipulating oil prices.
News ID: 2376 Publish Date : 2018/10/06
Russian and Saudi energy ministers see rising geopolitical risk as driving the recent oil price increase at a time when there is sufficient supply in the market -- a view that resonated with many delegates at Russian Energy Week, as the industry prepares for Iran sanctions to come into force on November 4.
News ID: 2351 Publish Date : 2018/10/04
OPEC’s oil production in September rose by 90,000 bpd from August to 32.85 million bpd—the highest level so far this year, but a plunge in Iranian production partly offset higher production in Saudi Arabia, Angola, and Libya, according to the monthly Reuters survey of OPEC supply.
News ID: 2341 Publish Date : 2018/10/03
Russia’s oil production averaged 11.3 million bpd between September 1 and 27, up by more than 130,000 bpd compared to August and on course to set a new record-high in the post-Soviet era.
News ID: 2308 Publish Date : 2018/09/30
OPEC Secretary-General Mohammad Barkindo called for cooperation between OPEC and non-OPEC countries, warning that failure to do so could lead to one crisis after another.
News ID: 2283 Publish Date : 2018/09/27
Iranian Oil Minister Bijan Namdar Zanganeh hit back at US President Donald Trump over his remarks on the Organization of the Petroleum Exporting Countries (OPEC) and said the blame for recent hikes in oil prices lies with Trump, himself.
News ID: 2280 Publish Date : 2018/09/26
In a speech before the United Nations, US President Donald Trump took aim at OPEC for increasing global oil prices while benefiting from US military security.
News ID: 2266 Publish Date : 2018/09/25
US President Donald Trump's tweeting habits are lifting oil prices, and he should stop posting on social media to alleviate the spike in prices, according to an Iranian official.
News ID: 2248 Publish Date : 2018/09/24
