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Crude oil surges to multi-month highs despite jump in U.S. stockpiles
(Seeking Alpha - 21/09/2017)

Crude oil prices rallied after the Iraqi oil minister said OPEC and its partners were considering extending or even deepening current production cuts. WTI crude settled at its best level since May, +1.9% to $50.41/bbl, while Brent popped +2.1% to

Oil heads for bumper quarter as Baghdad hints at cuts
(Arab News - 21/09/2017)

Oil is on course for its largest third-quarter gain in 13 years as prices rose on Wednesday after the Iraqi oil minister said that OPEC and its partners are considering extending or deepening output cuts aimed at reducing a global supply glut. Brent

Oil prices rally on deeper OPEC cuts
(Saudi Gazette - 20/09/2017)

Short-term disruptions and lower exports from OPEC members offset signs of stronger US oil production to help give crude oil prices a lift early Tuesday. Crude oil prices have been volatile, but moving generally higher for most of the month. Seasonal

Iraq Says OPEC Mulls Deeper, Longer Oil Cuts to End-2018
(Bloomberg - 19/09/2017)

Iraq and some other oil producers taking part in global output cuts think they should reduce supply by an additional 1 percent to help re-balance the market, according to Iraqi Oil Minister Jabbar al-Luaibi. Some also favor extending cuts until the end

Oil near five-month high as Middle East producers stick to cuts
(Reuters - 19/09/2017)

Oil prices traded close to five-month highs on Tuesday after fresh data showed key Middle Eastern producers continued to cut supply in line with an OPEC-led deal aimed at ending a crude glut. A weaker U.S. dollar also lent support to

Oil Holds Near $50 as Refiners Delay Work After Hurricane Harvey
(Bloomberg - 19/09/2017)

Oil held gains near $50 a barrel before U.S. crude stockpile data as refiners delay scheduled maintenance after Hurricane Harvey hit the Gulf Coast and shuttered almost a quarter of the nation’s refining capacity. Futures were little changed in New York

Another Bullish Oil Sign
(Seeking Alpha - 19/09/2017)

West Texas Intermediate (WTI) and Brent oil prices have increased to $50 and $55, respectively, and bullish oil signs continue to accumulate. Joint Organisations Data Initiative (JODI) just announced that, in July, Saudi Arabia's oil production remained

Opec's rebalancing strategy shifts as US oil imports drop
(The National - 19/09/2017)

The messages from the latest Opec meetings over the summer appeared positive. The oil cartel assured investors that the rebalancing process in the oil markets is working. Other headlines were highlighted. Growth beneficial to the oil industry is picking

U.S. oil prices hit $50 on rising refinery demand, falling rig count
(Reuters - 18/09/2017)

U.S. crude oil prices rose above $50 per barrel on Monday and were near last week's multi-month highs as the number of U.S. rigs drilling for new production fell and refineries continued to restart after getting knocked out by Hurricane Harvey. U.S. West

OPEC to rule on sustained output cut in March 2018
(Saudi Gazette - 14/09/2017)

OPEC and allied oil producers will keep reviewing options for their agreement to cut output, and a final decision on extending the deal beyond March could be postponed until the first quarter of 2018, Kuwait’s oil minster said. The Organization of

OPEC 'rebalancing' underway oil output dips
(Saudi Gazette - 13/09/2017)

OPEC's oil output dipped in August, the organization said Tuesday, a sign that supply and demand could be moving further towards balance. Production by the 14 members of the Organization of the Petroleum Exporting Countries came to 32.755 millions of

Saudi Arabia amenable to another OPEC cuts extension
(Saudi Gazette - 12/09/2017)

Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Falih agreed with his Venezuelan, Kazakh and UAE counterparts to keep all options open in their push to re-balance world oil markets, including the possible extension of output cuts

Crude prices rise amid Saudi talks on cuts extension
(The National - 11/09/2017)

Oil prices edged up on Monday after the Saudi oil minister discussed possibly extending a pact to cut global oil supplies beyond March 2018 with his Venezuelan and Kazakh counterparts. News of the talks on Sunday helped to offset downward pressure on oil

Kuwait raises October crude price for Asia
(The Peninsula - 11/09/2017)

Kuwait has raised the October official selling price (OSP) for its crude oil sold to Asia by 35 cents per barrel from the previous month, an industry source familiar with the matter said yesterday. Kuwait will sell crude to its Asian customers at a

Oman invites bids for 4 oil and gas blocks
(Oman Daily Observer - 10/09/2017)

The Ministry of Oil & Gas has unveiled a total of four onshore hydrocarbon blocks for investment as part of the Oman Licensing Round 2017, registration and bidding for which formally commences on September 20, 2017. Up for grabs are Block 43B, Block 47,

Oil settles at 4-week high
(Saudi Gazette - 07/09/2017)

OIl prices settled higher for a third day in a row on Wednesday, as demand for crude returned from restarted Gulf Coasts refineries following disruptions to US refining capacity due to Storm Harvey. On the New York Mercantile Exchange crude futures for

Oman exports 25m barrels of crude oil
(Times of Oman - 06/09/2017)

Oman’s total crude oil exports increased to 25.44 million barrels in July 2017, compared to 24.14 million barrels in the previous month. However, total exports for the first seven months of 2017 registered a 9.9 per cent decline to 171.90 million barrels

Oil output cut deal extension seen
(Saudi Gazette - 06/09/2017)

US crude rose 3.26 percent to $48.83 per barrel and Brent was last at $53.54, up 2.29 percent on the day. US gasoline prices were 3.15 percent lower at $1.69 per gallon.

Saudi Arabia raises October Arab Light crude OSP to Asia
(Gulfnews - 05/09/2017)

Saudi Arabia has raised its October price for its Arab Light grade for Asian customers by $0.55 (Dh2.02) a barrel versus September to a premium of $0.30 per barrel to the Oman/Dubai average, its state oil company said on Monday. The price rise reflect a

Brent crude oil falls after North Korea nuclear test
(Oman Daily Observer - 05/09/2017)

Oil prices fell on Monday after a powerful North Korean nuclear test explosion triggered a flight of investors away from crude markets and into gold futures, which are seen as a safe haven. Brent crude futures LCOc1, the international benchmark for oil

UAE crude exports to Japan hit 21.642m barrels in July
(Trade Arabia - 01/09/2017)

apan imported 21.642 million barrels of crude oil from the UAE in July 2017, statistics released by the Agency of Energy and Natural Resources in Tokyo, revealed. This accounts for 20.8 percent of Japan's total crude imports for the same month, said a

OPEC oil output slips from 2017 high on renewed Libyan outages
(Arab News - 01/09/2017)

Organization of the Petroleum Exporting Countries (OPEC) output has fallen this month by 170,000 barrels per day (bpd) from a 2017 high, a Reuters survey found, as renewed unrest cut supplies in Libya and other members stepped up compliance with a

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