Exxon Mobil Corp. is the latest company to join the energy firms in race to build up drilling portfolios in the red-hot Permian Basin in
Tag: OPEC
Market Update: Oil Freeze Hard to Keep as Prices Sink Again
Oil prices went down earlier this week after Libya, which has an exemption from output cuts, had increased its production by more than a factor
Market Update: Asia Ready for a Major Refining Capacity Increase
Asia will add the biggest amount of net refining capacity in three years in 2017, further boosting demand for oil in the world’s biggest and
Market Forecast: Hedge Funds and Oil Demand in 2017
Saudi Arabia has gained an unprecedented support of a coalition of oil-producing countries to agree output cuts in 2017. The Kingdom has obtained pledges from
Market Update: Getting Ready for the OPEC Output Freeze
Saudi Arabia has started informing its customers of the planned cut to their January oil supply to comply with the OPEC oil output freeze agreement.
Saudi Arabia Cuts Its Oil Price for Asia to Fight Off Competition
Saudi Arabia’s oil company Aramco cut the January price for its Arab Light crude for its Asian clients to the lowest level in four months
Agreement Reached: OPEC to Cut Its Oil Output
The Organization of the Petroleum Exporting Countries (OPEC) agreed yesterday (30 November) on its first oil production cut since 2008 after Riyadh had reached a
Market Update: OPEC Readying to Launch an Oil Freeze Deal
Venezuelan President Nicolas Maduro yesterday (16 November) attended an agreement signing ceremony with representatives of two oil companies – Venezuelan Delta Petroleum and India’s ONGC
Non-OPEC Countries Still Unwilling to Curb Oil Production
Non-OPEC producers yesterday (30 October) refused to commit themselves – in the face of pressure from the members of the Organization of the Petroleum Exporting
Saudi Arabia Invites Russia for Talks to Intensify non-OPEC Cooperation
Saudi Arabia’s Energy Minister Khalid al-Falih said yesterday (23 October) that he had invited Russian Energy Minister Alexander Novak to meet their Gulf Arab counterparts