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Oil extends gains as Saudi Arabia pledges export curbs
(Arab News - 26/07/2017)

Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and Organization of the Petroleum Exporting Countries (OPEC) called on several members to boost compliance with output cuts to help rein in oversupply and

Oil rises after Saudi vows to cap crude exports next month
(Gulfnews - 25/07/2017)

Oil rallied on Monday, erasing early losses after leading OPEC producer Saudi Arabia pledged to cut its exports to help speed up the rebalancing of global supply and demand. Saudi Energy Minister Khalid Al Falih said his country would limit crude oil

Saudi Arabia curtails crude shipments to US – US gasoline surplus
(Arab Times - 24/07/2017)

Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. The United States imported an average of 524,000 barrels per day (bpd) of crude from Saudi

Saudi Arabia curtails crude flow to United States
(Times of Oman - 23/07/2017)

Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. The United States imported an average of 524,000 barrels per day (bpd) of crude from Saudi

Oil dives about 2.5%; Opec crude output rise forecast
(Gulfnews - 23/07/2017)

Oil prices slid on Friday, settling about 2.5 per cent lower after a consultancy forecast a rise in Opec production for July despite the group’s pledge to curb output, reigniting concerns the global market will stay awash with crude. Benchmark Brent

Oil price edges up towards $49 a barrel
(The Gulf Today - 18/07/2017)

Oil edged up to about $49 a barrel on Monday after fewer drilling rigs were added in the United States last week, helping ease concerns that surging shale supplies will undermine Opec-led production cuts. US drillers added two oil rigs in the week to

Opec can absorb ‘orderly recovery from Libya, Nigeria and Iran’
(Gulf Times - 17/07/2017)

Opec wants an “orderly recovery” in oil production from Libya, Nigeria and Iran and has a flexible output target under its cuts agreement to accommodate more crude from the three member nations, the group’s secretary-general Mohammad Barkindo said. The

S Korea’s crude oil imports from Iran rise 10.5% in June
(Gulf Times - 16/07/2017)

South Korea’s crude oil imports from Iran increased 10.5% in June from a year earlier as Tehran continued to ramp up output after sanctions over its nuclear programme were lifted. Seoul imported 1.15mn tonnes of crude from Tehran in June, or 281,338

Saudis to cut August oil exports to lowest level this year — source
(Gulfnews - 13/07/2017)

Saudi Arabia will cut crude oil shipments to its customers in August by more than 600,000 barrels per day to balance the rise in domestic consumption during the summer, while staying within its Opec production commitment, a Saudi industry source said.

OPEC sees lower demand for its oil in 2018
(Arab News - 13/07/2017)

The Organization of the Petroleum Exporting Countries (OPEC) said on Wednesday its oil production jumped in June and forecast world demand for its crude will decline next year as rivals pump more, pointing to a market surplus in 2018 despite an OPEC-led

Oil falls as banks cut price forecasts
(Arab News - 12/07/2017)

Oil prices fell on Tuesday as global oversupply encouraged several banks to cut their forecasts for crude for this year and 2018. Brent crude was down 50 cents at $46.38 a barrel in mid-morning trade on Tuesday. US crude was 50 cents lower at $43.90.

Oil trades near $44 as Goldman says Opec action insufficient
(Bloomberg - 11/07/2017)

Oil erased earlier gains to trade near $44 (Dh161.61) a barrel in New York as Goldman Sachs Group Inc. warned Opec that it’s not doing enough to clear a surplus. Futures slid 0.5 per cent after advancing 1.2 per cent earlier. Oil may slip below $40

Opec approves $320m development funds
(Trade Arabia - 11/07/2017)

The Organization of the Petroleum Exporting Countries (Opec) has approved new funds worth more than $320 million for setting up key projects in developing countries across the world, said a report. The loans underline the international organisation's

Oil pares losses, but rising supply a worry
(Arab News - 11/07/2017)

Oil dipped on Monday, paring some earlier losses triggered by rising drilling activity in the US and no let-up in supply growth from both members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC exporters, but the outlook

US drillers add oil rigs, pace remains slow: Report
(Arab News - 09/07/2017)

US energy firms added oil rigs for a 24th week in the past 25 as the year-long drilling recovery continues but the pace of additions has slowed in recent months as crude prices declined despite efforts led by the Organization of the Petroleum Exporting

Crude oil sinks after Russia rules out further production cuts
(Market Watch - 05/07/2017)

Crude oil prices tanked in Wednesday’s trade, snapping its longest winning run since 2010 after Russia ruled out any proposals to deepen the OPEC-led production cuts. West Texas Intermediate oil CLQ7, -1.47% lost 76 cents, or 1.6%, to $46.31, setting it

Brent crude stabilizes near $50 a barrel
(Arab News - 05/07/2017)

Brent oil prices gained slightly on Tuesday, stabilizing near $50 a barrel on tentative signs that a persistent rise in US crude production may be slowing. The international benchmark gained 15 cents to $49.83 per barrel by 1409 GMT. US West Texas

Oil prices dip ahead of US holiday after 8 days of gains
(CNBC - 04/07/2017)

Oil prices retreated in early Asian trade on Tuesday, halting a run of eight straight days of gains on signs that a relentless rise in U.S. crude production was running out of steam. Brent crude futures were at $49.43 per barrel at 0147 GMT, down 25

Crude prices resume longest rally since 2012
(Arab News - 04/07/2017)

Oil pared earlier losses on Monday, resuming its longest stretch of daily rallies in more than five years after data pointed to moderating US output, though analysts said news of rising production from the Organization of the Petroleum Exporting

OPEC output at 2017 highs due to Kuwait, Saudi curbs – Nigeria,
(Arab Times - 03/07/2017)

OPEC oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers. High

Libya's Crude Output Hits a New High Just as Oil Prices Rebound
(Bloomberg - 02/07/2017)

Libya’s oil production has climbed to more than 1 million barrels a day for the first time in four years just as oil prices capped the longest run of gains in six months after U.S. shale explorers paused a record drilling expansion. Output is 1.005

Opec oil output jumps to 2017 high as Nigeria, Libya pump more
(Times of Oman - 02/07/2017)

Opec oil output has risen in June by 280,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, as a further recovery in supply from the two member countries exempt from a production-cutting deal offset strong compliance by their peers. High

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