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Opec seeks sustainable cooperation with other exporters
(The Gulf Today - 29/03/2018)

The Organization of the Petroleum Exporting Countries (Opec) is seeking “very long-term” cooperation with other crude exporters, the secretary general of the oil exporting group said on Wednesday.<br/><br/> Mohammad Barkindo was commenting on news that

OPEC, Russia working on longer oil alliance
(Arab News - 28/03/2018)

Saudi Arabia and Russia are working on a long-term oil pact that could extend controls over world crude supplies by major exporters for up to 20 years, the Kingdom’s crown prince has said.<br/><br/> A current agreement between the Organization of the Oil

Oil prices likely to rise into high 60s
(Oman Daily Observer - 27/03/2018)

International oil prices are likely to tick up into the “high-sixties” further into 2018, according to Dr Mohammed bin Hamad al Rumhy, (pictured) Minister of Oil and Gas. Speaking at the opening of the 2018 SPE EOR Conference — part of the OGWA 2018

Kuwait oil price down 3 cents to $64.72
(Trade Arabia - 25/03/2018)

The price of Kuwaiti oil went down three cents to reach $64.72 per barrel on Friday after it was at $64.75 per barrel the day before, the Kuwait Petroleum Corporation said on Saturday.<br/><br/> According to the Kuwait News Agency (KUNA), on a global

Opec said to discuss changing gauge of success for oil cuts
(Gulf News - 22/03/2018)

Opec and its allies held further discussions about changing the way they measure the impact of their production cuts, including proposals that would affect how quickly they hit their target, according to delegates from the group.<br/><br/> One option

Oil prices edges up on geopolitical tensions
(Oman Daily Observer - 21/03/2018)

Oil prices edged up on Tuesday, lifted by geopolitical tensions, although rising output in the United States and shaky stock markets put a lid on further gains. US West Texas Intermediate (WTI) crude futures were at $62.31 a barrel at 0128 GMT, up 25

Oil slips as US shale fears untempered by Russian reassurance
(Gulf News - 20/03/2018)

Oil slipped as US explorers resumed their drilling binge, raising concerns over whether output cuts by Opec and its allies will be enough to clear a glut despite a pledge from Russia that it’s committed to the curbs.<br/><br/> Futures in New York fell

Oil holds near $61 as shale growth balanced by IEA supply view
(Gulf News - 19/03/2018)

Oil held above $61 (Dh223.87) a barrel, paring the weekly loss, as investors weighed surging US crude production against a warning from the International Energy Agency of an impending shortfall in global supplies.<br/><br/> Futures in New York rose

Oman’s oil production touches 27m barrels
(Times of Oman - 18/03/2018)

Oman’s crude oil and condensate production for February 2018 reached 27,075,580 barrels, with a daily average of 966,985 barrels, according to the monthly report issued by the Ministry of Oil and Gas.<br/><br/> The total exported quantities of Oman’s

Oil pares gains as OPEC sees rapid growth in rival supply
(Arab News - 15/03/2018)

Oil rose slightly higher on Wednesday after strong Chinese factory activity, though concern over the pace of growth in US output, as well as other producing nations, meant there were limited gains.<br/><br/> The Organization of the Petroleum Exporting

Saudi Arabia to keep April crude oil exports under 7 mln bpd — ministry
(Gulf News - 15/03/2018)

Saudi Arabia plans to keep its crude oil production in April below 10 million barrels per day (bpd), and maintain exports under 7 million bpd, the energy ministry said on Wednesday, as the top Opec producer wants to end a global supply glut and boost

US oil export surge means Opec’s output cuts may be doomed
(Gulf News - 13/03/2018)

Oil risks sliding back under $60 (Dh220) a barrel as a surge in US shipments to Asia threatens to undermine a deal between Opec and its allies, according to ING Group NV.<br/><br/> While the producer group complied with a pledge to curb output and ease a

Crude oil futures resume upward trend; N Asian LNG spot prices fall
(Gulf Times - 12/03/2018)

Oil<br/><br/> Benchmark crude oil futures resumed their upward trend last week, gaining more than 1%, after a short pause during the previous week. Market volatility was the main feature, with losses and gains being reversed during subsequent trading

OPEC is struggling as it meets shale producers–Cartel walking on a tight rope
(Arab Times - 12/03/2018)

The oil organization has no choice but to find ways to communicate with its most vigorous competitor. USA shale producers are pumping oils as much as possible without any signs of slowing down and stopping their surge.<br/><br/> They are now heading

Oil prices fall amid trade war fears
(Gulf News - 08/03/2018)

Oil prices fell on Wednesday, pulled down by declining stock markets after a key advocate for free trade in the US government resigned, stoking concerns Washington will go ahead with import tariffs and risk a trade war.<br/><br/> Soaring US crude oil

Global oil sector needs $20 trillion investments
(The Gulf Today - 07/03/2018)

The global oil and gas industry needs to invest more than $20 trillion over the next 25 years to meet expected growth in demand and compensate for the natural decline in developed fields, Saudi Aramco Chief Executive Officer Amin Nasser said on

Kuwait’s refining ‘capacity’ at 736,000 bpd: KPC official
(Arab Times - 07/03/2018)

Kuwait’s crude refining capacity has stood at 736,000 barrel per day (bpd) after the closure of Shuaiba Refinery, a senior Kuwait Petroleum Corporation (KPC) official said.<br/><br/> KPC’s DCEO for Projects Abdullah Al-Ajmi made the statement to the

Hedge funds rediscover confidence after oil sell-off
(Gulf Times - 06/03/2018)

Hedge funds rediscovered some of their confidence in the oil market in the final week of February, as Opec reiterated its commitment to output restraint and benchmark prices stabilised above $60 per barrel.<br/><br/> Hedge funds and other money managers

Crude futures end 2-week rally on US output, trade war threat
(Gulf Times - 05/03/2018)

Oil Last week, benchmark crude oil futures stopped their two-week rally due to rising US oil inventory levels, concerns of growing US crude production, and the threat of an economic trade war that could squeeze global energy demand. Over the past week,

Crude ends a bad week with a bump higher as tariff panic eases
(Gulf News - 04/03/2018)

Oil ended a bad week a little higher as the initial panic over President Donald Trump’s trade-wars threat eased somewhat.<br/><br/> Futures in New York rose 0.4 per cent on Friday, erasing a morning slump and paring the weekly loss to about 3.6 per cent.

Oil trades below $62 as US stockpiles climb more than expected
(Gulf News - 02/03/2018)

Oil traded below $62 a barrel after falling the most in almost three weeks as US data showed inventories and supplies both surged, amplifying investors’ concerns of a global glut.<br/><br/> Futures in New York were little changed, after losing 3.6 per

Saudi Arabia tries for balance to its oil diplomacy
(Gulf News - 02/03/2018)

Saudi Arabia has long been the dominant force in oil. Now the kingdom must refresh its strategy to reflect a weaker hand — and in many ways, a different game.<br/><br/> The changing nature of the energy industry — the oil production boom in American

Oil prices to remain in $55-70 range
(Gulf News - 01/03/2018)

Saxo Bank expects oil prices to remain in the range of $55-70 per barrel, which will not be supportive for regional economies.<br/><br/> “A weaker dollar driven by increased concerns about the US economic outlook is not a strong enough foundation from

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