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Oil rises to $76 as tight current supply in focus
(The Gulf Today - 31/05/2018)

Oil climbed to $76 a barrel on Wednesday, supported by tight supplies despite expectations Opec and its allies will pump more in the second half of 2018 and helped by forecasts US inventories fell.<br/><br/> Global benchmark Brent crude has dropped more

RAK oil exploration tender 'draws positive interest'
(Trade Arabia - 31/05/2018)

The tendering process to explore oil and gas resources in Ras Al Khaimah has received positive interest from global firms, a statement from RAK Petroleum Authority has said. <br/><br/> Launched on April 1, 2018 and managed by the newly established RAK

Saudis, Kuwait, UAE are said to plan Saturday meeting on Opec
(Gulf News - 30/05/2018)

Energy ministers from Saudi Arabia, the United Arab Emirates and Kuwait plan to meet on Saturday to discuss Opec matters, about a week after the Saudis and Russia announced a new policy to revive oil production.<br/><br/> Saudi Energy Minister Khalid Al

Brent slumps as Saudis and Russia say reviving output
(Gulf News - 29/05/2018)

Brent crude headed for its longest run of losses in almost four months as Saudi Arabia and Russia said they are discussing reviving output to ease consumer anxiety after prices jumped to levels last seen in 2014.<br/><br/> Brent futures that traded above

Saudi-Russia policy shift sets stage for tense Opec meeting
(Gulf Times - 28/05/2018)

When Saudi Arabia and Russia announced a new policy to revive oil production last week, one thing was missing: most of the other partners in their grand coalition.<br/><br/> With oil supplies tightening and prices soaring, the two countries agreed to

OPEC says no to oil at $80 a barrel … too fast too soon
(Arab Times - 27/05/2018)

Oil consumers agree that the price level of $80 per barrel is too high and has to be adjusted soon. This is what OPEC and Russia are doing to bring order to the oil markets and some relaxation on the production volume. This is currently being achieved

Oil prices drop on potential increase in OPEC output
(Arab News - 24/05/2018)

Oil prices fell on Thursday on expectations that OPEC members will step up production in the face of worries over supply from both Venezuela and Iran. A surprise build up in crude oil inventories in the United States also weighed on prices, driving the

Oil dips as market eyes possible easing of OPEC supply curbs
(Arab News - 23/05/2018)

Oil prices edged lower on Wednesday with the possibility of higher OPEC output weighing on the market, although geopolitical risks are expected to keep prices near multi-year highs.<br/><br/> Brent futures fell 43 cents, or 0.5 percent, to $79.14 a

Brent over $78 as Venezuelan Risk Adds to Iran Concerns
(Gulf News - 22/05/2018)

Brent crude prices traded more than $78 (Dh286.49) per barrel, while West Texas Intermediate (WTI) advanced toward $72 a barrel as Venezuela’s election results escalated the risk of US sanctions against the Organisation of Petroleum Exporting Countries

Oil to hit $90 on new shipping laws, says Morgan Stanley
(Trade Arabia - 20/05/2018)

Forget Iran and Opec (Organization of Petroleum Exporting Countries) - there’s another issue that will keep oil prices supported for the next two years, reported Bloomberg, citing senior analysts of US investment bank Morgan Stanley.<br/><br/> Brent

Oil hits new multi-year high above $80
(The Gulf Today - 18/05/2018)

Oil prices climbed above $80 a barrel on Thursday for the first time since November 2014, hitting new multi-year highs on concerns that Iranian exports could fall because of renewed US sanctions, reducing supply in an already tightening market.<br/><br/>

Brent edges closer to $80 per barrel on tight oil market
(Arab News - 17/05/2018)

Oil prices firmed on Thursday, with Brent crude creeping ever closer to $80 per barrel, a level it has not seen since November 2014, as supplies tighten while demand remains strong.<br/><br/> Brent crude futures were at $79.36 per barrel at 0451 GMT, up

Oman crude touches $75 for July delivery
(Oman Daily Observer - 16/05/2018)

The Oman crude for the July delivery was traded for $75.41 on Tuesday in the Dubai Mercantile Exchange, an increase of $ 1.61 from the previous day. Globally, oil prices have soared past three-year highs, OPEC’s deal has cut millions of barrels of

Opec still cuts more than oil pact demands
(The Gulf Today - 15/05/2018)

A global oil glut has been virtually eliminated, figures published by Opec showed on Monday, thanks to an Opec-led pact to cut supplies that has been in place since January 2017 and due to rising global demand.<br/><br/> Despite this, Opec’s latest

Stability-seeking Opec not aiming for a certain oil price
(Gulf News - 14/05/2018)

The Organisation of Petroleum Exporting Countries (Opec) and non-Opec members are working towards market stability and are not aiming for certain prices, UAE Energy Minister Suhail Al Mazroui said on Sunday.<br/><br/> “The objective of Opec and non-Opec

Crude oil takes a breather after surging on Iran sanctions
(Gulf News - 13/05/2018)

Oil slipped, narrowing a second weekly gain, as traders consider the potential supply impact of renewed US sanctions on Iran. Futures in New York on US crude dipped back below $71 a barrel Friday, trimming this week’s increase to 1.4 per cent. Saudi

Oil Gains as Israel and Iran Clash After Trump's Sanctions Move
(Blooomberg - 10/05/2018)

Oil extended gains above $71 a barrel as a conflict between Israel and Iran ratcheted up, increasing prospects for tighter global supply after the U.S. renewed sanctions on OPEC’s third-largest producer. <br/><br/> Futures in New York added 0.8 percent

Saudi Arabia ready to 'mitigate' impact of Iran oil sanctions
(Gulf News - 10/05/2018)

Saudi Arabia promised to work with other Opec nations to "mitigate" the impact in the oil market of the US exit from the Iran nuclear deal. While the statement didn't say whether Riyadh would boost output, the new sanctions could disrupt as much as 1

Oman crude price nearly touches $74
(Oman Daily Observer - 10/05/2018)

The price of Oman crude oil for July delivery touched $73.97 at the Dubai Mercantile Exchange (DME, an increase of $1.41 from Tuesday’s close of $72.56. It should be noted that the average price of Omani crude for delivery in May was $63.33 per barrel,

Oil soars, Brent at $76.75 as Trump dumps Iran nuclear deal
(Gulf News - 09/05/2018)

Crude oil prices jumped back to near 3 1/2-year highs on Wednesday after President Donald Trump pulled the United States out of an international nuclear deal with Iran, sparking worries about global oil supplies.<br/><br/> Asian shares ticked down as

Oil prices fall as market awaits Trump decision on Iran
(Arab News - 08/05/2018)

Oil prices retreated from three-and-a-half-year highs on Tuesday as investors waited on an announcement by President Donald Trump on whether the United States will reimpose sanctions on Iran.<br/><br/> Should Trump pull the United States out of a

Oil prices reach highest since November 2014
(Oman Daily Observer - 08/05/2018)

Key crude oil prices rose by 1 per cent to their highest levels since late-2014 on Monday, pushed up by a deepening economic crisis in Venezuela. Brent crude oil futures were at $75.57 per barrel at 0650 GMT, up 70 cents, or 0.9 per cent, from their last

Russia stands by Opec deal even after 2 months of overproducing
(Gulf News - 07/05/2018)

Russia reaffirmed its pledge to an alliance with Opec, despite two months of breaching its target under a global oil-output deal.<br/><br/> The country remains “fully committed” to bringing balance to the crude market, Russia’s Energy Minister Alexander

Crude nears $70 with traders on edge ahead of Iran deal decision
(Gulf News - 06/05/2018)

Oil futures in New York zeroed in on $70 (Dh257.11) a barrel as traders brace for a re-imposition of US sanctions on Iran. Prices jumped 1.9 per cent on Friday to close at the highest level since November 2014. Even though US President Donald Trump has

Opec’s reason for sticking with the cuts rests on shaky ground
(Gulf News - 03/05/2018)

Opec and Russia seem determined to keep on cutting production even after their campaign to rebalance world oil markets achieved its main target. The primary justification for doing so looks shaky.<br/><br/> Sixteen months of output curbs have all but

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