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Saudi Arabia will not act alone says oil minister
(Arab News - 29/11/2018)

Saudi Arabia will not act alone to steady oil markets, Energy Minister Khalid Al-Falih told reporters in Abuja yesterday ahead of what will be a key week for the global oil market.<br/><br/> However the market was kept guessing by separate comments from

Oil slips on record Saudi output; markets eye G20 and Opec
(Gulf News - 28/11/2018)

Oil prices slipped on Tuesday, weighed down by record Saudi Arabian production even as OPEC’s top producer pushes for supply cuts ahead of the group’s meeting in Austria next week.<br/><br/> International Brent crude oil futures briefly dipped below $60

Bahrain launches 112-km Saudi oil pipeline link
(Trade Arabia - 28/11/2018)

His Majesty King Hamad yesterday (November 26) opened the new 350,000-bpd (barrel per day) AB-4 pipeline between Bahrain and Saudi Arabia that will replace the existing 230,000 bpd link, reported state news agency BNA.<br/><br/> The project was launched

Global oil prices continue to decline
(Times of Oman - 26/11/2018)

Oil prices around the world have fallen, as markets continue to deal with an oversupply of crude.<br/><br/> After reaching a high of US$86 a barrel in early October, the price of Brent crude futures plunged to $58.80 on Nasdaq last Friday and continued

Oil bulls flee with Saudis stirring deja vu of worst rout in decades
(Gulf News - 26/11/2018)

Hedge funds haven’t been this pessimistic about global oil prices since Brent crude was spiralling into its worst rout in a generation almost three years ago.<br/><br/> Net-long wagers on the international benchmark fell 15 per cent in the week ending

Opec, partners discuss oil supply cut of up to 1.4 million bpd
(Gulf News - 15/11/2018)

Opec and its partners are discussing a proposal to cut oil output by up to 1.4 million barrels per day (bpd) for 2019, three sources familiar with the issue said, a larger reduction than previously thought to avert a price-sapping oversupply.<br/><br/>

Oil falls after Trump urges Opec not to cut supply
(Gulf News - 14/11/2018)

Oil prices fell more than 1 per cent on Tuesday, with benchmark Brent crude slipping below $70 per barrel and US crude under $60, after US President Donald Trump put pressure on Organisation of the Petroleum Exporting Countries (Opec) not to cut supply

Less oil production to help maintain balance
(Trade Arabia - 13/11/2018)

Reducing oil production to maintain market balance could be necessary in the not too distant future, a Kuwaiti official warned on Sunday. OPEC ministerial talks held here revealed commitment to reduction by 104 percent in October, Kuwait’s OPEC

Opec ‘ready to meet short supply in market’
(Trade Arabia - 12/11/2018)

Opec member countries, primarily the UAE and Saudi Arabia, are ready to meet global oil market needs in case of any politically-motivated fall in supply, said Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, and President of

Oil teeters near record losing streak after bear market run
(Gulf News - 11/11/2018)

Oil extended a run of declines after falling into a bear market, heading for its longest losing streak on record. Futures in New York fell for a 10th day, extending a dramatic plunge that’s dragged prices down more than 20 per cent from a four-year high

Oil price slump spurs talk of another Opec U-turn
(Gulf News - 08/11/2018)

The Organisation of Petroleum Exporting Countries (Opec) is enduring one of the most head-spinning years in its history, swerving from cutting oil production to boosting it as quickly as possible. It may need to reverse course again.<br/><br/> Saudi

Oil could touch $100 if supply crunch worsens
(Gulf Times - 07/11/2018)

Oil prices are likely to be “biased to the upside” for the rest of the year as demand from refineries rises in November and December, according to Citigroup Inc.<br/><br/> An average price of $80 a barrel for this quarter is “realistic,” with spikes to

Oil rally faces tidal wave of supply
(Reuters - 04/11/2018)

The oil market’s two-year bull run is running into one of its biggest tests in months, facing a tidal wave of supply and growing worries about economic weakness sapping demand worldwide.<br/><br/> After topping out at more than $75 and $85 a barrel just

Asian LNG spot price flat as bloated storage deters trades
(Reuters - 04/11/2018)

Asian spot prices for liquefied natural gas (LNG) were flat this week, at two-month lows, as bloated storage levels in the region left cargoes stranded and deterred trade. <br/><br/> December spot LNG was heard at $10.20 per million British thermal units

Oil rises 1% ahead of US sanctions on Iran
(Gulf News - 01/11/2018)

Oil prices rose more than 1 per cent on Wednesday as markets braced for the imposition of US sanctions on Iran next week and as stock markets clawed back some of their recent losses.<br/><br/> Benchmark Brent crude oil was up 80 cents at $76.71 (Dh281.7)

Opec output at record high since 2016
(The Gulf Today - 01/11/2018)

Opec has boosted oil production in October to the highest since 2016, a survey found, as higher output led by the United Arab Emirates and Libya more than offset a cut in Iranian shipments due to US sanctions. The 15-member Organization of the Petroleum

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