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Oil Slumps on Investor Skepticism Over Output Cuts
(WSJ - 31/05/2017)

Oil prices fell Wednesday as investors remained skeptical that production cuts by major producers will make a dent in global crude stocks. Brent crude, the global oil benchmark, fell 2% to $51.19 a barrel on London’s ICE Futures exchange. On the New York

Oil falls on potential undermining of OPEC-led deal
(Reuters - 31/05/2017)

Oil prices fell by 1 percent on Wednesday as rising Libyan production fueled concerns that OPEC-led output cuts are being undermined by several countries that are excluded from the deal. Global benchmark Brent crude futures LCOc1 dropped 52 cents to

Crude oversupply worries continue
(Arab News - 31/05/2017)

Oil prices fell on Tuesday on concerns that output cuts by the world’s big exporters may not be enough to drain a global glut that has depressed the market for almost three years. Benchmark Brent crude dropped $1.10 a barrel, or more than 2 percent, to a

Oil Prices Fall as Investors Wait for OPEC Cuts to Take Effect
(WSJ - 30/05/2017)

Oil futures were depressed Tuesday, following last week’s decision by the Organization of the Petroleum Exporting Countries to extend a crude-oil production cap amid a global supply glut. Brent crude, the world oil benchmark, fell 0.88% to $51.83 a

Oil prices drift south as investors ponder the post-OPEC meeting
(Market Watch - 29/05/2017)

Oil prices slowly trended lower on Monday, reversing some of the gains seen ahead of the close in the U.S. on Friday, as the post-OPEC environment continues to develop. Crude futures slumped nearly 5% on Thursday after the production-cut deal led by the

Russia’s role in OPEC – Oil prices seen stable
(Arab Times - 29/05/2017)

OPEC’s agreement last Thursday was reached smoothly within a short time. All members of OPEC as well as Russia and other non-OPEC countries unanimously agreed to the historic deal that will last until the end of the first quarter of next year. This

OPEC ponders how to coexist with US shale oil
(Arab News - 28/05/2017)

First, they ignored each other. Then, they went into a bruising fight. Finally, they are talking, albeit with opposing agendas. The history of the relationship between the Organization of the Petroleum Exporting Countries (OPEC) and the US shale oil

OPEC says it will extend production cuts through March 2018
(WSJ - 25/05/2017)

The Organization of the Petroleum Exporting Countries on Thursday renewed an agreement to withhold some crude-oil supplies into March 2018, people familiar with the matter said, doubling down on its bet that it can raise prices despite soaring output

OPEC meets to extend oil cuts for up to one year
(Reuters - 25/05/2017)

OPEC and non-member oil producers are gearing up to extend output cuts on Thursday, possibly by as long as 12 months, to help clear a global stocks overhang and prop up crude prices. The Organization of the Petroleum Exporting Countries is to discuss in

OPEC Set to Prolong Cuts as Effort to Clear Oil Glut Goes Slow
(Bloomberg - 25/05/2017)

OPEC and its allies were poised to extend their production cuts for another nine months after last year’s agreement failed to clear a global supply glut or deliver a sustainable price recovery. Six months after forming an unprecedented coalition of 24

OPEC nears deal to extend oil output cut
(Saudi Gazette - 25/05/2017)

OPEC and non-member oil producers moved closer on Wednesday to clinching a deal on extending output cuts by nine months to clear a global stocks overhang and prop up the price of crude. The Organization of the Petroleum Exporting Countries meets in

Oil prices rise as market expects extended production cut
(Reuters - 24/05/2017)

Oil prices rose on Wednesday, supported by confidence that an OPEC-led output cut aimed at tightening supply would be extended to all of 2017 and the first quarter of next year. Brent futures LCOc1 rose to $54.34 per barrel by 0652 GMT, up 19 cents, or

Opec set to prolong oil output cuts
(The Gulf Today - 24/05/2017)

Opec will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. Saudi Arabia favours extending the output curbs by nine months

OPEC set to prolong oil cuts as delegates predict smooth meeting
(Arab News - 24/05/2017)

The Organization of the Petroleum Exporting Countries (OPEC) will likely agree to extend production cuts for another nine months, delegates said on Tuesday as the oil producer group meets this week to debate how to tackle a global glut of crude. Saudi

Oil Halts Advance After Four-Day Gain as OPEC Prepares to Meet
(Bloomberg - 23/05/2017)

Oil halted its advance after a four-day gain before OPEC meets Thursday to decide on prolonging output cuts by the group and its partners. July futures dropped 0.9 percent in New York after front-month prices Monday capped a 4.3 percent increase over

U.S. plan to sell oil reserves undermines OPEC supply managemnt effort
(Reuters - 23/05/2017)

U.S. President Donald Trump's proposal to sell half of the United States' strategic oil reserve surprised energy markets on Tuesday since it counters OPEC's efforts to control supply in order to boost prices. The White House requested in its budget

Oil prices fall as White House proposes U.S. oil reserve sales
(Reuters - 23/05/2017)

Oil prices fell on Tuesday after U.S. President Donald Trump proposed the sale of half the country's strategic oil reserves, even as producer club OPEC and its allies cut output to tighten the market. Brent crude futures LCOc1 were trading down 43 cents,

Oil up on expectations of extended output curbs
(Arab News - 23/05/2017)

Oil prices rose on Monday, bolstered by the confidence that top exporters will this week agree to extend supply curbs, with suggestions the cuts could even be deepened. Brent crude gained 48 cents to $54.09 a barrel by 1043 GMT, with US light crude up 47

Russia and Saudi in solid accord on oil output cuts–Stabilizing market
(Arab Times - 22/05/2017)

The OPEC meeting to be held in Vienna next Thursday will be very quick; the members should be home the same evening. They basically will agree on extending the current crude-oil production cuts for another nine months, and they will leave Vienna soon

Oil prices rise on expectations of extended supply curbs
(Arab News - 18/05/2017)

Oil prices extended gains on Tuesday after top producers Saudi Arabia, Russia and Kuwait supported prolonging supply cuts until the end of March 2018 in an effort to drain a global glut. Brent crude oil was up 30 cents at $52.12 a barrel by 1335 GMT. US

Oil jumps after Saudis, Russia say supply cut to be extended to Mar-18
(Reuters - 15/05/2017)

Oil prices jumped over 1.5 percent on Monday after the energy ministers of the world's two biggest producers Saudi Arabia and Russia jointly said that a crude production cut would be extended from the middle of this year until March 2018. Brent crude was

Stable crude oil price is now harming OPEC
(Arab Times - 15/05/2017)

The dip in oil prices to below $49 per barrel last Friday should not go unnoticed. Some real challenging questions were raised concerning the reason behind this sudden dip; whether the increase in shale oil production is the main factor along with

Oil stable on expected OPEC cut extension
(Arab News - 14/05/2017)

Oil prices traded largely flat on Friday, supported by expectations of an extended production cut led by the Organization of the Petroleum Exporting Countries (OPEC) and falling US crude inventories but capped by concerns over global oversupply.

Oil rises after US inventories drop
(Arab News - 11/05/2017)

Oil prices rose on Wednesday after Iraq and Algeria joined Saudi Arabia in supporting an extension to the Organization of the Petroleum Exporting Countries (OPEC) supply cuts and US crude inventories fell more than expected. But the rise failed to recoup

UAE produces 208 million barrels of crude during Q1 2017
(Gulfnews - 09/05/2017)

In compliance with Opec’s oil-output cut decision during the first six months of the year, the UAE produced 208 million barrels of crude oil during the first quarter of 2017, compared with 211,73 million barrels during the same period last year,

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