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Saudi-Russian oil cooperation to stabilize market
(Saudi Gazette - 26/06/2018)

The joint agreement by OPEC and other oil-producing allies to raise output demonstrates the strength of the Saudi-Russian energy alliance, which will help stabilize the market for many years to come, the head of Russia’s sovereign wealth fund said on

Opec, non-Opec pledge supply boost
(Trade Arabia - 25/06/2018)

Opec and non-Opec members said they would raise supply by returning to 100 per cent compliance with previously agreed output cuts, after months of underproduction, a media report said.<br/><br/> This came in a statement issued at the end of the 4th Opec

Opec to boost oil output after Saudis clinch deal with Iran
(Trade Arabia - 24/06/2018)

rganization of Petroleum Exporting Countries (Opec) and allies including Russia will boost oil production starting next month, offering relief to consumers after Saudi Arabia secured a last-minute deal to overcome Iran’s opposition, said a

Reports predict mixed prospects for Kuwait, other oil-producing nations
(Arab Times - 21/06/2018)

Local and international economic reports have predicted positive and risky prospects for oil producing countries such as Kuwait, pointing out that at the moment things are moving forward towards improving the oil prices, continuing economic reform

Opec sees strong oil market in H2
(The Gulf Today - 20/06/2018)

Global oil demand is set to stay strong in the second half of 2018, an Opec technical panel forecast this week, suggesting the market could absorb extra production from the group.<br/><br/> The Organization of the Petroleum Exporting Countries meets on

Reports predict mixed prospects for Kuwait, other oil-producing nations
(Arab Times - 20/06/2018)

Local and international economic reports have predicted positive and risky prospects for oil producing countries such as Kuwait, pointing out that at the moment things are moving forward towards improving the oil prices, continuing economic reform

Opec members to decide on raising oil production
(Trade Arabia - 19/06/2018)

Members of the Organisation of the Petroleum Exporting Countries (Opec) will meet in Vienna this week to decide on whether to end its production freeze, a market expert has revealed.<br/><br/> The group may be considering lifting the cap altogether, said

Russia and Saudi Arabia agree Opec+ format should be extended
(Oman Daily Observer - 17/06/2018)

Russia and Saudi Arabia have a general consensus that the Opec+ format should be “institutionalised” and extended until 2019 and beyond for oil market monitoring and joint action in case of need, Russia’s energy ministry said in a statement.<br/><br/>

Saudi Arabia raises oil output amid fears of supply crunch
(Arab News - 14/06/2018)

Saudi Arabia posted the biggest month-on-month increase in oil supply of any OPEC country in May, according to the latest report from the International Energy Agency (IEA).<br/><br/> The Kingdom’s production was up 100,000 barrels per day (bpd) to 10.02

Opec to raise oil supply in second half of 2018
(Oman Daily Observer - 14/06/2018)

The Organization of Petroleum Exporting Countries (Opec), which collectively produces about one third of global oil supply, and their non-Opec partners in the 2016 Vienna Agreement, including Russia, will abandon their historic supply pact in the second

Oil prices stall as hedge funds take profits
(Arab Times - 13/06/2018)

Investors continue to reduce their bullish position in crude oil futures and options, after a blistering rally over the last year, but now the profit-taking has spread to refined fuels such as gasoline and heating oil.<br/><br/> Hedge funds and other

Oil prices slip as US, Russian supplies grow
(Oman Daily Observer - 12/06/2018)

Oil prices slipped on Monday, pulled down by rising Russian production and as US drilling activity rose to its highest in more than three years. Analysts expect higher US output to offset supply curbs by the Organization of the Petroleum Exporting

European refiners winding down purchases of Iran oil
(Reuters - 07/06/2018)

European refiners are winding down oil purchases from Iran, closing the door on a fifth of the Opec member’s crude exports after the US imposed sanctions on Tehran, company and trading sources said.<br/><br/> Although European governments have not

Russian oil output again tops Opec target ahead of Vienna talks
(Gulf News - 03/06/2018)

Russia breached its oil-output quota agreed with Opec for a third straight month as the producing alliance prepares for crucial talks this month on increasing supplies.<br/><br/> Oil output averaged 10.97 million barrels a day in May, almost unchanged

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