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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

Oil hits highest levels since 2015 amid tightening markets
(Reuters - 06/11/2017)

Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures LCOc1,

More work needed to cut global oil inventory: Falih
(Saudi Gazette - 05/11/2017)

Minister of Energy, Industry and Mineral Resources and chairman of Saudi Aramco Khalid Al-Falih said on Saturday that more work was needed to reduce global oil inventories. “There is a general satisfaction with the strategy of 24 countries that signed a

Oil prices near 2-year high
(Arab News - 05/11/2017)

Oil prices rose on Friday, nearing their highest levels in more than two years, with buyers attracted by expectations of an extension to a global pact to cut output that has reduced oversupply. Global benchmark Brent futures traded up 41 cents at $61.03

Oil near 2-year high; growing global demand supports market
(Reuters - 03/11/2017)

Oil prices rose on Friday, nearing their highest levels in more than two years, supported by rising global demand and physical prices and continuing expectations that OPEC and other producing countries will extend a deal to cut output. Global benchmark

Brent hits fresh high at $61.32 on Opec's compliance with cuts impro
(Gulfnews - 02/11/2017)

Oil prices rose to near recent highs on Wednesday, November 1, as data showed Opec has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the deal. Brent futures, the international benchmark for oil prices,

US crude oil exports hit all-time high
(CNBC - 01/11/2017)

Oil prices pulled back on Wednesday after data showed U.S. crude exports surged to an all-time high and American drillers pumped near record levels. The United States exported 2.13 million barrels a day of crude oil in the week through Oct. 27, the first

Oil price forecast in $50-$60 per barrel range, says KPMG
(Times of Oman - 01/11/2017)

Majority of oil and gas companies expect the current oil price between $50 and $60 per barrel as an indicator of the new market equilibrium for the foreseeable future, said KPMG in a note. A major oil trader indicated that a further increase in the short