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Crude headed for weakest first half in two decades
(Arab News - 22/06/2017)

Oil prices slipped on Wednesday despite a larger-than-expected decline in US crude and gasoline inventories, as investors remained concerned about high global crude output and the nagging supply glut. Brent crude futures fell 27 cents at $45.75 a barrel

OPEC's Loss Is Poland's Gain as Shale Boom Tames Inflation
(Bloomberg - 21/06/2017)

North America’s shale industry may be the swing producer in the oil market, but it’s becoming a dominant factor across the Atlantic for eastern Europe’s biggest importer of energy. OPEC’s loss of its pricing power, combined with cost reductions and

Crude prices hit seven-month lows on global oversupply
(Arab News - 21/06/2017)

Oil prices fell to seven-month lows on Tuesday after news of increases in supply by several key producers, a trend that has undermined attempts by the Organization of the Petroleum Exporting Countries (OPEC) and others to support the market through

Oil prices flat after weeks of steep declines
(Arab News - 20/06/2017)

Oil prices were flat on Monday after diving 13 percent since late May as rising production in the US, Libya and Nigeria have foiled the Organization of the Petroleum Exporting Countries’ (OPEC) efforts to support the market by cutting production. Brent

Oil’s Gloomy Summer Triggers Hedge Fund Doubts on Gasoline
(Bloomberg - 19/06/2017)

Hedge-fund pessimism about crude prices is spilling into gasoline markets, even at the time of year when demand is highest. With the U.S. awash in gasoline, money managers for the first time on record were bearish on the fuel in the month of June, when

Oil prices dip on further rise in U.S. drilling, demand slowdown
(Reuters - 19/06/2017)

Oil prices dipped on Monday, weighed down by a continuing expansion in U.S. drilling that has helped to maintain high global supplies despite an OPEC-led initiative to cut production to tighten the market. Signs of faltering demand have also prompted

Crude oil in need of miracle – OPEC unable to stem decline
(Arab Times - 19/06/2017)

OIL market is in need of a miracle … or is it better to say OPEC is in need of a miracle of increased oil prices before they dive below $40 per barrel? It seems the oil organization is unable to stop the decline. No further action can be taken before the

Oil output to expand faster than demand
(Oman Daily Observer - 15/06/2017)

Global oil output will expand faster than worldwide demand for oil next year, primarily as US producers rack up production, and that could hamper exporters’ efforts to prop up prices, the IEA said on Wednesday. A day after Opec complained that increased

Oil prices edge down
(Arab News - 14/06/2017)

Oil prices edged down on Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) reported an increase in its production for May despite a supply cut agreement and said the oil market was rebalancing more slowly than expected. Benchmark

Oil Holds Gains as U.S. Crude Stockpiles Seen Resuming Decline
(Bloomberg - 13/06/2017)

Oil held gains near $46 a barrel before U.S. government data forecast to show crude stockpiles resumed declines after an unexpected rise. Futures climbed 0.4 percent in New York after advancing 1 percent in the previous two sessions. Inventories are

Oil rises as investors buy into US crude
(Arab News - 13/06/2017)

Oil rose on Monday to break a two-day losing streak after futures traders increased their bets on a renewed price upswing even though rising US drilling helped keep physical markets bloated. Brent crude futures were up by 63 cents at $48.78 a barrel by

Oil Extends Gains as Saudis See Global Supply Drop Accelerating
(Bloomberg - 12/06/2017)

Oil extended gains as Saudi Arabia and Russia sought to reassure investors that coordinated production cuts by OPEC and its partners are draining a global glut. Futures rose as much as 0.7 percent in New York after climbing 0.4 percent Friday.

Oil inventory drawdown to accelerate in 3-4 months, says Al-Falih
(Arab News - 12/06/2017)

A drawdown in crude oil inventories will accelerate in the next three to four months, Saudi Energy Minister Khalid Al-Falih said on Sunday. Al-Falih, speaking to reporters in the Kazakh capital of Astana, also said Saudi Arabia planned to grow exports to

Saudi energy minister says no immediate need to adjust oil pact
(Arab News - 11/06/2017)

There is no evidence a pact by global oil producers to curb output needs to be adjusted, Saudi Arabia’s Energy Minister Khalid Al-Falih said on Saturday, describing the recent weakness in crude prices as an overreaction to statistical glitches. Al-Falih

GCC’s oil: Setting the record straight
(Saudi Gazette - 08/06/2017)

THE historic economic reforms and transformation in GCC countries currently underway could be interpreted erroneously and lead to unintended messages, including the idea that our countries are moving towards a major oil renunciation. We are fully aware

OPEC deal goes under spotlight in St. Petersburg
(Arab News - 07/06/2017)

Aside from Igor Sechin, the CEO of Russia’s largest oil company Rosneft, it seems that the majority of the attendees at the St. Petersburg International Economic Forum in Russia last week are satisfied with the latest deal made in Vienna by the world’s

Oil Trades Near Three-Week Low Amid Talks to Resolve Qatar Spat
(Bloomberg - 06/06/2017)

Oil traded near the lowest closing level in three weeks as diplomatic efforts to resolve a clash between Qatar and Saudi Arabia eased tensions in the world’s biggest energy-producing region. Futures were little changed in New York after sliding 2 percent

Qatar keeps exporting LNG, oil despite diplomatic row
(Gulf Times - 06/06/2017)

Qatar, the world’s biggest seller of liquefied natural gas, can still access shipping routes to deliver oil and gas to buyers after Saudi Arabia and other neighbouring states barred the country from exporting through their territorial waters. Qatargas

Opec deal extension isn't enough to rope in crude oil bulls
(The Peninsula - 06/06/2017)

The good news from Opec wasn’t good enough. Hedge funds trimmed bets on rising crude prices to the lowest level since November as oil futures dipped below $50 a barrel amid skepticism an Opec-led campaign to cut output will soon curb a worldwide supply

US strategic oil reserve – Reduction in oil stock to benefit producers
(Arab Times - 05/06/2017)

The decision of the current American administration to sell 50 percent of its total strategic oil reserve, which is estimated to be around 700 million barrels, has been met with some concerns within the oil industry, most importantly its impact on the

Oil slides as US climate withdrawal compounds glut concerns
(Arab News - 04/06/2017)

Brent crude tumbled below $50 on Friday, heading for a second straight week of losses, on worries that US President Donald Trump’s decision to abandon a climate pact could spark more oil drilling in the US, worsening a global glut. Benchmark Brent crude

Oil prices under pressure from rising OPEC supplies
(Reuters - 02/06/2017)

Oil prices pared gains reached earlier in the session on Thursday, despite US industry data showing a big drop in crude stocks last week, as the market remains suspicious whether OPEC cuts will be enough to rebalance an oversupplied market. Brent crude

Russia-OPEC Deal Extension Hastens Decline of Oil Heartlands
(Bloomberg - 01/06/2017)

Russia’s deal with OPEC has bolstered state coffers by putting a floor under crude prices, but it’s also had one unintended consequence: depressing output in the nation’s West Siberian oil heartlands. With the Kremlin offering lower tax rates for new

OPEC, non-OPEC committed to inventory cut
(Saudi Gazette - 01/06/2017)

OPEC and non-OPEC countries are committed to bringing global oil inventories down to the industry’s five-year average, Minister of Energy, Industry and Mineral Resources Khalid Al-Falih said on Wednesday, adding he saw the target being reached in the

Oil prices at 3-week low as rising output risks OPEC-led deal
(Arab News - 01/06/2017)

Oil prices fell to a three-week low on Wednesday on news that Libyan output was recovering from an oil field technical issue, fueling concerns that the output cuts led by the Organization of the Petroleum Exporting Countries (OPEC) to reduce global