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Oil rises from one-month low on hopes of output deal extension
(Arab News - 30/04/2017)

Oil prices rose on Friday after a slide to a one-month low the previous day prompted investors to buy at cheaper levels ahead of an Organization of the Petroleum Exporting Countries (OPEC) meeting next month at which producers could prolong output curbs.

Oman upstream oil and gas activity at high levels
(Oman Daily Observer - 27/04/2017)

Notwithstanding a commitment to capping crude production in line with a global output reduction pledge reached by Opec and non-Opec producers, activity levels in Oman’s oil and gas sector will continue to be sustained at peak highs, according to a top

Oil dips on doubts over OPEC’s ability to reduce inventories
(Arab News - 26/04/2017)

Oil eased on Tuesday, paring earlier gains, as doubts about the Organization of the Petroleum Exporting Countries’ (OPEC) ability to reduce global crude inventories put the price on track for its sixth fall in seven days. Brent crude was down 3 cents at

Oil Veteran Says OPEC Needs Year to Pull Off Elusive Mission
(Bloomberg - 25/04/2017)

OPEC needs a year more to accomplish what’s at the moment proving to be mission impossible, according to a veteran oil analyst. Saudi Arabian oil minister Khalid Al-Falih acknowledged last week that the group and its allies, after three months of

Oil slips, as investors fret about rising US drilling
(Arab News - 25/04/2017)

Oil prices dipped on Monday, reversing earlier gains as concerns about a pick up in US drilling activity trumped expectations that the Organization of the Petroleum Exporting Countries (OPEC) will extend output cuts through the end of 2017. “It is a

Oil recovers lost ground, but market remains under pressure
(Reuters - 24/04/2017)

Oil prices recovered ground on Monday following last week's big losses, driven by expectations that OPEC will extend a pledge to cut output to cover all of 2017, although a relentless rise in U.S. drilling capped gains. U.S. West Texas Intermediate (WTI)

Oil Rises as OPEC Committee Backs Extending Cuts, Dollar Drops
(Bloomberg - 24/04/2017)

Oil rose the first time in six days as an OPEC-led committee was said to back prolonging supply cuts and as investors favored riskier assets after the first round of French presidential elections. Futures climbed as much as 0.7 percent in New York after

Oil stock close to ‘balance’, barrel stubbornly below $56
(Arab Times - 24/04/2017)

If the global oil stock is close to balancing out, why then is the barrel price hovering around the $55 level and not jumping to a higher level? What makes it firm and steady but refusing to go above $56? Is the reason the growth in shale oil production

Oil prices fall on supply fears
(Arab News - 23/04/2017)

Oil fell on Friday and was on course for its biggest weekly drop in a month due to doubts that the production cut led by the Organization of the Petroleum Exporting Countries (OPEC) will restore balance to an oversupplied market. Brent futures were down

Crude prices hit 11-day low
(Arab News - 20/04/2017)

Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fueling concerns that US production growth is undermining efforts to cut oversupply. US

Oil likely to hover at around $55 in 2017-2018: IMF
(Trade Arabia - 19/04/2017)

The International Monetary Fund (IMF) expects global oil prices to keep at around $55 per barrel in 2017-2018, according to the latest World Economic Outlook report released on Tuesday. The average price of crude oil amounted to $42.84 per barrel in

OPEC Chief Sees Oil Producers Near to Re-Balancing Market
(Bloomberg - 19/04/2017)

Oil-producing nations are moving closer toward ending a global glut and re-balancing the crude market, and OPEC will decide next month whether to extend its cuts in output beyond June, the group’s Secretary-General Mohammad Barkindo said. The

UAE committed to oil production cuts: Minister
(The Gulf Today - 19/04/2017)

Suhail Bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said the UAE sees a healthy level of demand for crude oil in the future from emerging economies in Africa and Asia, and that the UAE would remain commercially-minded in its strategic oil

Crude prices hit 11-day low
(Arab News - 19/04/2017)

Oil prices hit their lowest in 11 days on Tuesday on news that US shale oil output in May is expected to post the biggest monthly increase in more than two years, fueling concerns that US production growth is undermining efforts to cut oversupply. US

Oil recoups losses; US oil output growth weighs
(Arab News - 18/04/2017)

Crude oil recouped earlier losses on Monday in subdued trading, but signs that the US is continuing to add output largely counteracted strong economic growth in China and efforts led by the Organization of the Petroleum Exporting Countries (OPEC) to cut

Oil slides as U.S. pumps more, but OPEC and North Korea loom
(Reuters - 17/04/2017)

Crude oil slid lower on Monday on signs that the United States is continuing to add output, largely counteracting strong economic growth in China and OPEC efforts to cut production. Benchmark Brent crude futures were down 50 cents at $55.39 at 1126 GMT.

Oil falls after failed North Korean missile test, U.S. rig count gains
(Reuters - 17/04/2017)

Crude oil fell in quiet trading on Monday, after the three-day Easter break, on signs the United States is continuing to add output, undermining OPEC efforts to support prices, and as the market digested North Korea's failed missile launch on Sunday.

Bullish Oil Bets Gain on Signs OPEC Cuts to Outdo U.S. Boom
(Bloomberg - 17/04/2017)

OPEC is finally making some headway in its race against the tide of surging U.S. supplies, and speculators are giving the group greater credence. Hedge funds boosted bets on higher West Texas Intermediate crude prices a second week as futures topped $53

Brent may hit $57 if Opec extends output cuts
(Trade Arabia - 16/04/2017)

Brent crude may average $57 for a barrel this year, if a six-month extension of Opec production cut is realised, said a report citing Samba Financial Group. Next year, Brent crude may average higher – $62, reported Gulf Times. “The timing of a market

Gulf loses rig as U.S. count continues to rise
(Houmatoday.com - 16/04/2017)

The Gulf of Mexico lost one drilling rig last week as the U.S. rig count continues to climb. A key barometer for Houma-Thibodaux’s oil-based economy, the Gulf rig count stood at 21 Thursday, according to weekly figures from Houston-based

Most oil producers want extension of output cuts: Iran minister
(Reuters - 16/04/2017)

Most oil producers support an extension of output cuts by OPEC and non-OPEC countries, and Iran would also back such a move, Iranian Oil Minister Bijan Zanganeh was quoted as saying. "(Zanganeh) stressed that most countries want OPEC's decision to be

Oman crude climbs above $55per barrel
(Oman Daily Observer - 13/04/2017)

For the second time in nearly a month, Oman Crude recovered lost ground to settle at well above the psychologically significant $55 per barrel mark yesterday. Prices rose 62 cents to reach $55.34 in trading yesterday in trend with international crude

New ‘Oman Oil & Gas Regulations’ on cards
(Oman Daily Observer - 12/04/2017)

Oman’s Ministry of Oil & Gas is preparing to roll out high-level regulations governing all governing all facets of upstream hydrocarbon activities in the Sultanate. The move, according to a top official of the Ministry, will support the development of a

Oil eases from 5-week high
(Arab News - 12/04/2017)

Crude oil edged back from a five-week high on Tuesday, as rising US shale oil production weighed against support from tensions in the Middle East and production cuts led by members of the Organization of the Petroleum Exporting Countries (OPEC) and other

Kuwait signs agreement for 230K bpd ‘refinery’ in Oman
(Arab Times - 11/04/2017)

Minister of Electricity and Water as well as the Minister of Oil Essam Al-Marzouq on Monday said that Oman’s Duqm Refinery has been designed so that it can receive full needs from Kuwaiti oil, by 100 percent. The minister made the statement to KUNA