OPEC said on Monday (12 September) that global markets would remain oversupplied next year as prices will likely stay low due to the resilience in
Category: Mena
Iran Reconsidering an Output Freeze as Production Stagnates
The new data has showed that Iran’s accelerating oil production has stalled in the past quarter as the country is struggling to meet its objectives
Saudi Arabia and Russia Team Up to Help World’s Oil Markets
Saudi Arabia and Russia seized the opportunity given by a G20 summit and agreed that they would cooperate in global oil markets in the future.
Saudis Pondering an Output Freeze
Saudi Arabia is considering offloading a stake in the state-run producer Aramco after two years of an oil price war. This change comes as OPEC
Iraq Considers Oil-Swap Deal with Iran if Talks with Kurds Fail
Iraqi Oil Ministry said that it would consider selling its crude through Iran if the upcoming negotiations with the autonomous Kurdish region on an oil
Iraq’s New Oil Minister Insists on Reviewing Oil Contracts
Iraq is to review deals with oil companies to cut the fees that the companies receive when oil prices are low, the country’s new oil
Iraq Revamps Investment Deals to Boost Oil Output
Iraq has finalized deals with BP, Shell and Lukoil to provide a new impetus to stalled investments in oil fields that the companies are developing.
OPEC Sees Oil Market Rebalancing
Mohammad bin Saleh al-Sada, Qatar’s Minister of Energy and Industry, said yesterday (8 August) that the oil market was on the path to rebalancing despite
Israel’s ICL Signs Contracts with China
Israel Chemicals Ltd. (ICL) has signed long-awaited deals to supply potash to buyers in China, the world’s largest consumer of the fertilizer. Analysts believe that
OPEC Updates 2017 Oil Forecasts After Brexit
OPEC has recently updated its 2017 outlook for the oil market, taking into account possible consequences of Brexit. The cartel says that the world’s demand