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Oil set to stabilise at $55-$65, says Lukoil Mideast chief
(Bloomberg - 28/02/2017)

Oil will stabilise around $55 to $65 a barrel as Opec (Organization of Petroleum Exporting Countries) fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, said the Middle East head of Russian

Oil gains on supply cuts
(Arab News - 28/02/2017)

Oil prices rose on Monday, with the market set to rise for five of seven sessions as a global supply glut appears to ease, but rising US production limited gains. Brent crude oil climbed 0.8 percent to $56.44 per barrel by 0740 GMT, while US West Texas

Oil prices to average $50-$70 through 2022: Report
(Arab News - 26/02/2017)

Brent crude prices will average $50 to $70 a barrel through 2022, as demand outpaces supply on average over the forecast period, said a report. The report issued by Bank of America Merrill Lynch said global oil consumption has expanded by 3.6 million

Crude Oil Breakout Attempt from 2 Month Range
(Daily FX - 24/02/2017)

There is no change to prior crude comments. “Crude is coiled…really tight. Bollinger band width is the smallest since July 2002! Historically extreme readings tend to register before strong directional moves. Which direction though? If I forget about the

Oil up 2% as OPEC chief sees higher compliance with cuts
(Arab News - 23/02/2017)

Oil prices rose about 2 percent to near three-week highs on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) said it was sticking to its agreement to cut production. OPEC hoped compliance with the deal would be even higher as it

LNG demand set to grow by 4-5% a year: Offcial
(The Peninsula - 21/02/2017)

Global demand for liquefied natural gas (LNG) reached 265 million tonnes (MT) in 2016 – enough to supply power to around 500 million homes a year. This included an increase in net LNG imports of 17 MT. Many expected a strong increase in new LNG supplies

Oil rises, but growing US output threatens rally
(Arab News - 21/02/2017)

Oil edged up on Monday, as investor optimism over the effectiveness of producer cuts encouraged record bets on a sustained price rise, although growing US output and stubbornly high stockpiles kept price gains in check. Brent futures were up 28 cents at

Oil Prices Rise Despite Higher U.S. Rig Count
(WSJ - 20/02/2017)

Oil prices edged higher on Monday despite lingering concerns regarding U.S. supply that have kept prices within a narrow trading range despite major producers continuing to curb global supply. The April contract for global crude benchmark Brent gained

Kuwaiti Oil Price Up 3 Cents to $52.20 per Barrel
(The Peninsula - 19/02/2017)

The price of Kuwaiti oil went up by three cents to USD 52.20 per barrel Friday after being at USD 52.17 pb Thursday, Kuwait Petroleum Corporation (KPC) said Saturday. In global markets, there has been a rise in US shale oil output even though oil

Oil prices still under pressure from North America
(Arab News - 19/02/2017)

No matter how hard the Organization of the Petroleum Exporting Countries (OPEC) tries to support global crude prices and speed up the recovery of the oil market, the developments in North America are offsetting every effort. Oil prices in New York on

Oil pulls back after brief rally
(Arab News - 16/02/2017)

Oil turned negative Wednesday, as falling gasoline futures weighed down crude prices on concerns that oversupply in the US would limit the effect of the Organization of the Petroleum Exporting Countries’ (OPEC) record compliance with its supply-cut

Oil rises as output cuts trim oversupply
(The Peninsula - 15/02/2017)

Oil rose yesterday, supported by an Opec-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 80 cents higher at $56.39 a barrel by 1425 GMT. US light

Saudis push for oil market recovery with lowest output in 8 years
(Arab News - 14/02/2017)

Saudi Arabia, the world’s largest crude exporter, told the Organization of the Petroleum Exporting Countries (OPEC) that it cut oil production to its lowest level in more than eight years, signaling its seriousness in supporting market recovery. The

Analysts predict high level of compliance among Opec members
(Gulfnews - 13/02/2017)

Compliance among oil producing countries in cutting output is expected to be high when Opec releases its monthly oil market report on Monday, analysts said. Thirteen member of the Organisation of the Petroleum Exporting Countries (Opec) and 11 non-Opec

Oil overhang points to need for extended OPEC output cuts
(Arab News - 12/02/2017)

An OPEC-led production cut may well be accelerating a drawdown in global oil stocks that began last year, but implementing the reduction for just six months means the producer group will fall short of achieving its objective of rebalancing the market.

Crude prices continue to decline
(Arab News - 09/02/2017)

Oil prices slid on Wednesday, extending falls from the previous session, as a big increase in US crude inventories and a slump in Chinese demand implied too much global supply despite OPEC-led efforts to cut output. International Brent crude futures were

Crude prices fall as reviving shale balances OPEC cuts
(Arab News - 08/02/2017)

Oil prices fell on Tuesday as lower production by the Organization of the Petroleum Exporting Countries (OPEC) and other exporters was undermined by growing evidence of a revival in US shale production and sluggish demand. Benchmark Brent crude was down

Oil slips further below $57 as dollar strength counters OPEC
(Arab News - 07/02/2017)

Oil slipped further below $57 barrel on Monday as a stronger dollar and ample US supplies outweighed the Organization of Petroleum Exporting Countries (OPEC) output curbs and rising tensions between the US and Iran. The dollar fell 0.3 percent versus a

Opec cuts oil output, but more work needed to fulfill deal
(Times of Oman - 05/02/2017)

Opec cut output by 840,000 barrels a day last month, but has more work to do to fully comply with last year’s historic production deal. The Organisation of Petroleum Exporting Countries pumped 32.3 million barrels a day in January, according to a

Oil edges further above $55
(Arab News - 02/02/2017)

Oil edged further above $55 a barrel on Wednesday supported by signs that Russia and the Organization of the Petroleum Exporting Countries (OPEC) are delivering on promised supply reductions, although a report showing a large rise in US crude

Brent Crude Oil Steadies at $55
(Financial Tribune - 01/02/2017)

Oil prices steadied on Tuesday as rising US drilling activity helped undermine efforts by OPEC and other producers to cut output to try to prop up the market. Brent crude oil was up 10 cents a barrel at $55.33. US light crude was down 10 cents a barrel

Oil jumps as Opec cuts output, dollar dives
(Reuters - 01/02/2017)

Oil prices rose more than 1 percent on Tuesday after news that the world's top producers cut production this month more than forecasters had expected and as the dollar sank. A Reuters survey showed that the Organization of the Petroleum Exporting

Oil steady as rising US output offsets Opec-led cuts
(Reuters - 01/02/2017)

Oil prices steadied on Tuesday as rising US drilling activity helped undermine efforts by Opec and other producers to cut output to try to prop up the market. Brent crude oil was up 10 cents a barrel at $55.33 by 1155 GMT. US light crude was down 10