The International Energy Agency (IEA) said that growth in oil supply would outpace an anticipated increase in demand that will bring the global economy above
Tag: OPEC
Market Update: Saudis Contemplating Oil Output Freeze Beyond March 2018
Saudi Energy Minister Khalid al-Falih said that OPEC and other leading non-OPEC producers might need to prolong their output freeze in the future after they
Iran’s Election Result Prophesizes Hot Contracts with International Oil Majors
Thanks to the reelection of Hassan Rouhani, Iran has high hopes to sign huge deals with major oil companies such as Total and Lukoil this
Market Update: Another 9 Months of Oil Production Freeze Approved
Saudi Arabia and non-OPEC Russia have decided to extend production cuts by another 9 months till March 2018 with the aim to tame the global
Market Update: Oil Prices Rebound With $50 Once Again Becoming Ceiling
Oil prices rebound from five-month lows, following a week of major losses around the world, as investors are still worried about overflowing crude inventories. Even
No Exception for Exxon to Drill in Russia as OPEC Extends Output Freeze
The Organization for Petroleum Exporting Countries (OPEC) has decided in favor of an oil output freeze extension. The cartel would extend the global deal to
Market Update: Iraq to Fully Comply with OPEC Production Freeze
Iraq has pledged to fully comply with the agreement to cut oil supply in order to prop up crude prices, OPEC Secretary General Mohammed Barkindo
Market Update: Future of OPEC Oil Output Freeze Extension Unclear
New production projects and a fresh shale boom are likely to boost oil production by a million barrels per year and result in an oversupply
Market Update: OPEC’s Output Cut Not Working as Expected
OPEC’s efforts to tame global oversupply of oil and gas have so far had a little effect as demonstrated by the fact that Asia is
Market Update: Oil Prices Rising as OPEC Production Falls
Oil prices have been on the rise since major crude producers painstakingly tightened their output in support of the agreement struck on 30 November to