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Output cuts extension in focus as Opec meets in Vienna
(Gulfnews - 30/11/2017)

Extension of output cuts beyond March 2018 will be in focus as Opec member countries, along with Russia, meet in Vienna on Thursday. However, the meeting is not going to be smooth and intense negotiations are expected over the duration of cuts, analysts

Oil market stability improving: Opec chief
(The Gulf Today - 29/11/2017)

Current world oil market conditions, returning confidence and optimism in the industry are all evidence of the positive outcome of Declaration of Cooperation, Opec Secretary-General Mohammad Sanusi Barkindo said during the Opec and non-Opec Technical

Goldman warns oil bulls beware as uncertainty grips OPEC meeting
(Bloomberg - 28/11/2017)

OPEC’s in a quagmire, foreshadowing disappointment for oil bulls counting on the group and its allies extending output curbs by nine months, according to Goldman Sachs Group Inc. Saudi Arabia’s proposal to prolong cuts from their current expiration on

Oil falls on doubts over OPEC, pipeline restart
(Reuters - 28/11/2017)

Oil prices fell on Tuesday on uncertainty over the outcome of a key OPEC meeting this week due to decide on production policy for the next year. Brent crude oil LCOc1 was down 50 cents a barrel at $63.34 a barrel by 1000 GMT. U.S. light crude CLc1 was 50

U.S. oil dips on increased drilling
(Reuters - 27/11/2017)

U.S. oil prices dipped on Monday, easing from two-year highs on the prospect of increased U.S. output, although global markets were slightly better supported by expectations an OPEC-led supply cut will be extended. U.S. West Texas Intermediate (WTI)

China's splurge on U.S., Russian crude shows OPEC's dilemma: Russell
(Reuters - 27/11/2017)

The shifting dynamics of China’s crude oil imports show the scale of the challenges facing the Organization of the Petroleum Exporting Countries (OPEC) and its allies ahead of a decision on whether to continue with production cuts. The detailed Chinese

Disruption supports oil ahead of key Opec meeting
(Gulf Times - 27/11/2017)

A pipeline disruption is sending WTI crude oil to a two-year high, strike action in South America is supporting copper, a dovish FOMC and a stronger yen are supporting gold and a mild beginning to the US winter is sending natural gas lower. These are

Recovery in oil price helps cut deficit to OMR3b
(Times of Oman - 23/11/2017)

A recovery in crude oil prices and prudent economic policies of the Oman government have resulted in a marked drop in the country’s budget deficit for the first nine months of this year. The Sultanate’s budget deficit for the January-September period of

Oil price rises ahead of Opec meeting
(Times of Oman - 22/11/2017)

Oil prices rose on Tuesday as traders looked to a meeting next week at which major crude exporters are expected to extend production cuts, though rising US output capped gains. Brent crude oil was up 47 cents at $62.69 a barrel at 0932 GMT. US light

Saudi Arabia steps up oil diplomacy ahead of OPEC meeting
(Arab News - 22/11/2017)

Saudi Energy Minister Khalid Al-Falih and his staff are busy these days. The minister and some of his aides are in continuous talks with global producers to convince them to attend the meeting of OPEC in Vienna on Nov. 30. Saudi officials are inviting

Crude Oil Prices Remain Moderately Higher in Quiet Trade
(Investing.com - 21/11/2017)

Crude oil prices remained moderately higher in quiet trade on Tuesday, as investors eyed the release of upcoming U.S. inventory reports after news last week of an increase in production dampened optimism over the rebalancing of the market. The U.S. West

As Venezuela pumps below OPEC target, oil rivals begin filling gap
(Reuters - 20/11/2017)

As Venezuela’s dilapidated energy sector struggles to pump enough crude oil to meet the country’s OPEC output target, rival producers within the exporters group have started to plug the gap, OPEC and industry sources said. The South American country’s

Oil markets tepid ahead of Nov. 30 OPEC meeting
(Reuters - 20/11/2017)

Oil markets were tepid on Monday as traders were reluctant to take on big new positions ahead of an OPEC meeting at the end of the month, when the producer club is expected to decide whether to continue output cuts aimed at propping up prices. Brent

Oman Oil production touches 30m barrels in October
(Times of Oman - 16/11/2017)

The Sultanate’s crude oil production, including condensates, rose by 2.4 per cent to touch 29.98 million barrels in October 2017. This is against an output of 29.27 million barrels in the previous month. The daily average crude oil production stood at

Oil, gas will stay key energy source till 2040: Opec
(Trade Arabia - 15/11/2017)

Oil will remain the world’s largest source of energy over the next two decades, despite the increasing importance of renewables, predicts the latest edition of the Opec World Oil Outlook. Released in an exclusive briefing to senior industry executives at

Opec could be expanded with more countries joining
(Gulfnews - 15/11/2017)

The UAE Energy Minister Suhail Al Mazroui said Opec is a concerned group working for the market stability and not a cartel. He also hinted about the expansion of the group with more countries joining the organisation headquartered in Vienna, Austria. “I

OPEC points to 2018 oil supply deficit as market tightens
(Arab News - 14/11/2017)

OPEC raised its forecast on Monday for demand for its oil in 2018 and said its deal with other producers to cut output was reducing excess oil in storage, potentially pushing the global market into a deficit next year. The Organization of the Petroleum

OPEC, allies unlikely to delay decision on oil cut extension
(Reuters - 13/11/2017)

OPEC and non-OPEC oil producers are moving towards deciding at their Nov. 30 meeting whether to extend a global agreement to curb oil supply further into 2018, two ministers said on Monday, a quicker time frame than previously indicated. The Organization

Oil prices to average higher next year: 45% of industry professionals
(Gulf News - 13/11/2017)

Oil prices are likely to average higher next year and this would mean more income for the countries in the Gulf Cooperation Council (GCC) region, some industry experts have predicted. According to nearly half (45 per cent) of 100 energy professionals

Global oil market moves in right direction
(The Peninsula - 13/11/2017)

The Minister of Energy and Industry, H E Dr Mohammed bin Saleh Al Sada (pictured) said that the global oil market is heading in the right direction, stressing that the current oil reserves are close to what they have been in the past five years, which

Brent oil to average $60/barrel next year
(Saudi Gazette - 13/11/2017)

Brent crude oil, the world’s largest oil price benchmark, will average in the $60s a barrel range in 2018, according to 45% of respondents to the Gulf Intelligence GIQ Oil Markets Survey of 100 energy industry professionals conducted on the eve of ADIPEC

Oil prices stabilise just below two-year highs
(Reuters - 09/11/2017)

Oil prices steadied just below two-year highs on Thursday, supported by supply cuts by OPEC and other major exporters including Russia. Benchmark Brent crude oil LCOc1 was unchanged at $63.49 a barrel by 0840 GMT. On Tuesday, Brent reached an intra-day

Crude Oil Prices Seesaw on Conflicting News, US Tax Plan on Tap
(Daily FX - 09/11/2017)

Crude oil prices seesawed as conflicting catalysts stoked volatility only to settle little-changed by yesterday’s session close. A move higher triggered by news that a fire took the Shell Echilada-Salsa platform offline was countered EIA inventory data

China sets 2018 non-state crude oil import quota
(Reuters - 08/11/2017)

China has raised its 2018 crude oil import quota for “non-state trade,” generally meaning independent refiners, by 55 percent over 2017, raising the clout of the independents in the global market after a setback this year. The move took market

Shell looks beyond road fuels to secure future of refining
(Reuters - 06/11/2017)

While the world braces for the electric-vehicle revolution, Royal Dutch Shell is betting on growing appetite for asphalt and plastics to sustain its century-old oil refining business for the coming decades. Converting crude oil into products ranging from

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