2018 2017 2016 2015 2014 2013 2012 2011 News Archive
January
Opec may end cuts early as prices hit new high, say experts
(Trade Arabia - 21/01/2018)

As oil trades near a three-year high and crude stockpiles fall rapidly, analysts are questioning whether the Organization of Petroleum Exporting Countries (Opec)-led production cuts will last until the end of the year. As the producer group gears up for

Kuwait hails OPEC’s role for maintaining market
(Arab Times - 18/01/2018)

Deputy Prime Minister and Minister of State for Cabinet Affairs Anas Al-Saleh on Tuesday lauded the key role undertaken by the Organization of Petroleum Exporting Countries (OPEC) for achieving the crude market balance. The minister made the statement

Brent oil falls by $1 but demand underpins price near $70
(Gulf News - 17/01/2018)

Brent crude oil shed some of its recent gains by falling just over $1 a barrel on Tuesday but healthy demand underpinned prices near $70 (Dh257), a level not seen since 2014’s market slump. Prices have been driven up by oil production curbs in OPEC

Brent could average at $64 in 2018: report
(Trade Arabia - 16/01/2018)

The expected drop in OECD inventories suggests that oil prices will likely be higher in 2018 than originally seen and Brent crude oil price is projected to reach $64 per barrel (/bbl) this year, said the Bank of America Merrill Lynch (BofAML) in a new

Oman appeals for coordination in sustaining oil rally
(Oman Daily Observer - 15/01/2018)

The Sultanate has urged international producers to work in coordination to help sustain resurgent global oil prices that have soared to $70 per barrel for the first time since the calamitous slump of late 2014. The appeal came in a media briefing

Oil hits $70 for first time in 3 years despite bearish pressures
(Trade Arabia - 14/01/2018)

Oil’s rise to $70 a barrel for the first time in three years had clear triggers as supplies tighten and demand climbs, yet it still surprised many traders because there were so many reasons for prices to falter, said experts at Bloomberg. Those bearish

U.S Crude Oil At 3 Year Highs
(Investing.com - 11/01/2018)

U.S. Crude Oil (WTI) traded above the $63 handle on Tuesday, as the American Petroleum Institute (API) reported an exceptionally large draw of 11.19 million barrels of U.S. crude oil inventories for the week ending 5th January, against an expectation of

Oil prices top $69
(The Gulf Today - 11/01/2018)

Crude oil prices hit new multi-year highs on Wednesday as Opec-led production cuts and healthy demand helped to balance the market, but analysts warned of possible overheating. A broad, global market rally, including stocks, has also been fuelling

Oil rises above $68 to highest since May 2015
(The Gulf Today - 10/01/2018)

Oil rose further above $68 a barrel on Tuesday, touching its highest since May 2015, supported by O-led production cuts and expectations US crude inventories fell for an eighth week. The Organization of the Petroleum Exporting Countries and allies

OPEC won't react to small, short-lived oil supply disruptions
(Reuters - 08/01/2018)

OPEC is monitoring unrest in Iran as well as Venezuela’s economic crisis, but the group will only boost output if there are significant and sustained production disruptions from those countries, a senior OPEC source from a major Middle Eastern oil

Oil scores best opening week in half a decade as supply tightens
(Gulf News - 08/01/2018)

Oil had its strongest opening week for any year since 2013 as refiners and exporters whittled away at crude inventories tucked away in US storage tanks. Futures rose 1.7 per cent this week in New York. The pull on oil stockpiles in the world’s biggest

Oil scores best opening week in half a decade as supply tightens
(Gulf News - 07/01/2018)

Oil had its strongest opening week for any year since 2013 as refiners and exporters whittled away at crude inventories tucked away in US storage tanks. Futures rose 1.7 per cent this week in New York. The pull on oil stockpiles in the world’s biggest

Moody's forecasts oil range of $40-$60 for 2018
(The National - 04/01/2018)

Moody's Investors Service forecasts oil prices to remain in the $40 to $60 per barrel range this year despite ongoing production curbs by Opec and other major non-Opec producers. Prices are likely to remain "range-bound", noted the ratings agency, as

Oil trades near strongest levels since mid-2015
(Times of Oman - 03/01/2018)

Oil prices posted their strongest opening to a year since 2014 on Tuesday, with crude rising to mid-2015 highs amid large anti-government rallies in Iran and ongoing supply cuts led by Opec and Russia. US West Texas Intermediate (WTI) crude futures

Oil records strongest year opening since 2014
(CNBC - 02/01/2018)

Oil prices notched their strongest start to a calendar year since 2014 on Tuesday, amid anti-government protests in Iran and ongoing OPEC-led production cuts. U.S. West Texas Intermediate (WTI) crude futures traded at $60.45 a barrel, up 0.05 percent, at

Russia Tightens Oil Grip With China's Second Pipeline
(Bloomberg - 02/01/2018)

A second Sino-Russian oil pipeline began operations on New Year’s Day, doubling China’s capacity to import crude from the East Siberia-Pacific Ocean system. China can now import 30 million tons annually (about 600,000 barrels a day) of Russian ESPO crude

OPEC wins over hedge funds to make 2017 oil's most bullish year
(Bloomberg - 01/01/2018)

Oil bulls are charging into the new year with unprecedented vigor, and the credit goes to OPEC. The signs that the group is winning its tug of war with shale are compelling, and money managers have taken note: Their combined bets on rising prices for