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Opec sees oil market in balance within a year
(The Gulf Today - 14/12/2017)

Supply and demand in the global oil market are likely to balance out by the end of 2018 thanks to a pick-up in demand, notably from the transport sector, Organisation of the Petroleum Exporting Countries (Opec), said on Wednesday. Demand is projected to

Brent jumps to mid-2015 high after North Sea pipeline outage
(Gulfnews - 13/12/2017)

Brent oil prices jumped by 1 per cent on Tuesday to their highest since mid-2015, after the shutdown of the Forties North Sea pipeline knocked out significant supply from a market already tightening due to Organisation of Petroleum Exporting Countries

Opec, non-Opec to work on exit strategy for output curbs in June 2018
(The National - 12/12/2017)

Opec and non-Opec producers will agree on a strategy in June to exit the production cuts agreement currently in place to rebalance the oil markets, the UAE energy minister said on Monday. Oil producers agreed in Vienna at the end of November to extend

Oil prices slip under shadow of U.S. drilling
(Reuters - 11/12/2017)

Oil markets edged lower on Monday as ongoing output cuts led by OPEC were countered by rising U.S. drilling activity that points to a further increase in American production. Brent crude futures LCOc1, the international benchmark for oil prices, were 15

Opec’s output at lowest level in six months
(Times of Oman - 11/12/2017)

Opec oil output in November dived to 32.35 million barrels per day, its lowest in six months led by declines in eight of the 14 member countries, an S&P Global Platts survey of Opec and oil industry officials and analysts showed. November output slid

Opec to discuss exit strategy by June
(The Gulf Today - 11/12/2017)

Kuwait’s oil minister Essam al-Marzouq said on Sunday that Opec and other oil producers will study before June the possibility of an exit strategy from the global oil supply-cut agreement. “There are still meetings every couple of months for the

UAE optimistic about continued compliance to Opec deal
(Gulfnews - 07/12/2017)

UAE energy minister Suhail Al Mazroui expressed optimism about the continued compliance by oil producing countries for the output cut agreement and sees global oil inventories reducing further next year. Opec and non-Opec members led by Russia are

Oil prices dip on rising fuel stocks in the United States
(Oman Daily Observer - 07/12/2017)

Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lacklustre demand. US West Texas Intermediate crude futures were at $57.37 a barrel at 0132 GMT, down 25 cents, or 0.4

World oil prices remain above $62 a barrel
(Times of Oman - 06/12/2017)

Oil steadied above $62 a barrel on Tuesday as expectations of a drop in US crude inventories and prolonged supply curbs by Opec and other producers countered rising output in the United States. An Opec-led producer group last week extended a

Shale oil in focus as Opec extends deal
(Gulfnews - 04/12/2017)

Attention will turn towards rising shale oil production in the US and compliance among oil producers as Opec and its allies extend their output cut agreement to the end of 2018, analysts said. At a meeting in Vienna last week, Opec members and countries

World oil market to reach full stability in 2018, says UAE
(Trade Arabia - 03/12/2017)

The world oil market has the potential to reach full stability in 2018 as the level of inventories are expected to be reduced to a comfortable level, said UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei. ''For stability to

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