Sunday 25 June 2017
 
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Opec

Opec, non-Opec conformity level hits 106pc

Organization of the Petroleum Exporting Countries (Opec) and the participating non-Opec countries have recorded the highest conformity ever with their voluntary adjustments in production, achieving a level of 106 per cent, reported AzerNew

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Opec output hits six-month high in May

With US oil and gas companies already stepping up activities in 2017, crude output climbed in May - the same month Opec met to extend its production cuts - to a six-month high, since November 2016, according to the organisation's latest mont

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No urgent need for Opec deal adjustment, says Saudi minister

There is no evidence the global oil producers' pact needs to be adjusted now, said a Reuters report citing the Saudi energy Minister Khalid Al Falih who is on a visit to Kazakhstan. Al Falih described the recent weakn

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No light at the end of the Opec tunnel

Organization of the Petroleum Exporting Countries (Opec) and several non-Opec countries have finalised plans to extend production cuts for an additional nine months (through Q1 2018) without specifically articulating an exit strategy, said an ex

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Oil producers extend output cut by 9 months

Opec and non-Opec oil producers agreed to extend output cuts for an additional nine months at an Opec meeting in Vienna, Austria yesterday (May 25), a report said. The production cuts of 1.8 million barrels a day, first agreed on

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Opec faces three choices: stay, cut or hike output

The Organisation of Petroleum Exporting Countries (Opec) faces three distinct choices: stay, cut, or hike output at the highly anticipated meeting in Vienna on May 25, said Bank of America Merrill Lynch (BofAML) in a new report. F

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Brent to average $54 in 2017: report

With global oil stocks still too high and US supply recovering faster than we anticipated, Brent is seen averaging $54 per barrel in 2017 and $56 per barrel in 2018, says a Bank of America Merrill Lynch (BofAML) report. The sharp

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Saudi, Russia agree to extend deal to cut oil output

Saudi Arabia and Russia have agreed to extend the Opec and non-Opec oil output reduction deal for another nine months till March 2018, reports said. Saudi Energy Minister Khalid Al-Falih and Russian Energy Minister Alexander Novak

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Saudi Arabia, Russia agree oil output cut extension

Saudi Arabian and Russian energy ministers met on Monday in Beijing, China and jointly stated that a deal to cut crude supplies would be extended from the middle of this year until March 2018, a report said. Opec and other produce

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Iran plans 3 mbd rise in oil output capacity

Iran has plans to raise its crude oil production capacity by three million barrels per day (mbd), said a top official of the National Iranian Oil Company (NIOC) on Monday. The move is aimed at promoting and stabilizing the country

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