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Posts Tagged "opec"

HomePosts Tagged "opec"

Asian share markets was black on Monday as the promise of more stimulus boosted Chinese stocks for a second session and helped offset geopolitical concerns over Saudi Arabia, Italy and Brexit. Oil prices were stable on Monday, supported by supply concerns ahead of the start of U.S. sanctions against Iran’s crude exports, but held back […]

Oil prices dipped on Tuesday amid expectations of an increase in U.S. crude inventories, but signs of a fall in Iranian oil exports this month kept losses in check. International benchmark Brent crude for December delivery had fallen 6 cents or 0.07 per cent to $80.72 per barrel by 0654 GMT. U.S. West Texas Intermediate […]

Oil prices rose up on Tuesday, supported by concerns that tensions in the Middle East could lead to supply disruptions. Hopes that behind-the-scenes talks between the United States and China will prevent a looming trade war between the world’s two biggest economies also supported global markets, including crude oil futures. Brent sweet crude futures were […]

Brent crude, the international benchmark for oil prices rose by 2.8% on Tuesday, to trade at $67.06. This is the highest since May 2015 when it reached the peak of $67.10. US West Texas Intermediate crude futures witnessed a corresponding increase of $1.50, or 2.6%, to $59.97, having traded as high as $60, the best level […]

By Alex Lawler, Rania El Gamal and Shadia Nasralla VIENNA, Nov 30 (Reuters) – OPEC agreed on Thursday to extend oil output cuts until the end of 2018 as it tries to finish clearing a global glut of crude while signalling it could exit the deal earlier if the market overheats. Non-OPEC Russia, which this […]

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By Alex Lawler, Vladimir Soldatkin and Ahmad Ghaddar VIENNA, Nov 28 (Reuters) – OPEC and Russia are heading towards prolonging their oil supply cuts for the whole of 2018 but with an option to review the deal in June, OPEC sources said on Tuesday after Moscow expressed concerns the market could overheat. The recommendation was […]

Oil producers are expected to unanimously extend a production cut accord later this month but its duration is being discussed, the UAE energy minister said on Monday. “I think this group of committed and responsible producers came together… and I think they will continue to do what it takes to take us to the next […]

  • OPEC

Mohammad Barkindo, OPEC secretary-general, says crude oil demand will increase by 16 million barrels per day by 2040. Barkindo — who made no comments on the effect of the presence of new technologies like the electric car on oil prices — made this revelation at the Reuters Global Commodities 2017 Summit, 9 October 2017, London, UK. […]

* OPEC output rises by 50,000 bpd to 32.86 million bpd * Sept compliance by 11 countries with output targets 86 pct * Libyan, Iraqi output higher; Nigeria, Angola slip * For output by country, compliance details: By Alex Lawler LONDON, Sept 29 (Reuters) – OPEC oil output has risen this month by 50,000 barrels […]

The prices of crude oil hit a new 2017 high Monday, continuing a rally fuelled by improving demand and expectations that the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers will extend output cuts. The International benchmark, Brent crude rose $1.52, or 2.7 per cent, to $58.38 per barrel, surpassing the highest level of […]