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NEWS |
Wall Street Sees Oil Price Recovery In 2019
Investment banks have had to recalibrate their oil price forecasts for next year after prices plunged by more than a third from early-October highs.
NEWS |
Brent crude rises $1, but set for first yearly drop since 2015
Oil prices rose about 2 percent on the final trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first annual decline in three years amid lingering concerns (...)
NEWS |
UK North Sea Oil & Gas Review
It has been a busy end-of-year period in the UK Continental Shelf. Between mid-November and the first half of December, several end-year industry reports were published, and companies both large and s (...)
NEWS |
Oil will skyrocket to $300 if OPEC-Russia alliance disbanded, Saudi institute claims
Without the Organization of the Petroleum Exporting Countries (OPEC) the world will lose its safety net that stabilizes the oil market from supply disruptions and other shocks, according to Saudi inde (...)
NEWS |
Iraq lifts oil production at Halfaya oilfield to 370,000 bpd
Iraq has increased production at its southern Halfaya oilfield by 100,000 barrels per day (bpd) to a total of 370,000 bpd, an oil official told Reuters on Wednesday.
NEWS |
Gabon oil union begins three-day strike after layoffs
Gabon’s oil union began a three-day strike on Tuesday across all facilities after the layoff of Total workers, it said.
NEWS |
Opec agrees last-minute deal to slash output by 1.2m barrels per day
The price of Brent crude edged up yesterday as some of the world’s major oil producers agreed a last-minute deal to cut their output.
NEWS |
OPEC deal could push oil to $80 per barrel – analyst tells RT
The Organization of Petroleum Exporting Countries (OPEC) has reached a new deal to restrict global output. Oil prices jumped in response, and they will continue to soar, analyst told RT.
NEWS |
OPEC Dec 6th Vienna meeting preview: Agenda and timings
The much-awaited meeting of the Organisation of Petroleum Exporting Countries (OPEC) is due on the cards later today that will have a significant impact on the oil price-action in the coming months.
NEWS |
Qatar will withdraw from Opec on January 1
Qatar will withdraw from Opec on January 1, Qatari Energy Minister Saad Al Kaabi announced on Monday.
NEWS |
Oil prices surge more than 5% on cut pledge, US-China deal
Oil prices soared more than five percent on Monday after Russia and Saudi Arabia renewed a pact to cap output, while the US agreed to halt raising tariffs on Chinese imports, stalling a trade row that (...)
NEWS |
Brent drops below $60, WTI near $50 on U.S. stockpiles, Opec uncertainty
Brent crude oil fell below $60 a barrel Wednesday, while West Texas Intermediate hovered over $50/Bbl, after U.S. crude inventories rose for the 10th straight week.
NEWS |
Trump Claims Victory As Oil Prices Plummet
Oil prices are now down over 20 percent from recent highs, and President Trump knows exactly where the credit for that belongs. “If you look at oil prices they’ve come down very substantially over the (...)
NEWS |
Oil and gas diverge as inventories move in different directions
Crude oil and natural gas prices are moving in opposite directions, with traders in both markets spooked by inventories. Supplies are looking too plentiful for about six months in the global oil marke (...)
NEWS |
Saudi Arabia has assured OPEC there will be no crude shortage
Saudi Arabia has assured OPEC that it is “committed, capable and willing” to ensure there will be no shortage in the oil market, OPEC’s secretary-general said on Wednesday.
NEWS |
Brent oil rises to four-year high as sanctions against Iran loom
Brent crude oil prices rose to their highest since November 2014 on Monday ahead of US sanctions against Iran, the third-largest producer in oil cartel Opec, which kick in in November.
NEWS |
OPEC to raise supply amid US sanctions on Iran
Some of the world’s largest oil producers are mulling the possibility of raising oil supply by as much as 500,000 barrels per day (bpd) in a bid to compensate for Iran’s falling output, it has been re (...)
NEWS |
Has Saudi Arabia and Russia taken the oil market 'hostage'
Iran’s OPEC governor said on Saturday that Saudi Arabia and Russia have taken the oil market “hostage” as U.S. President Donald Trump seeks to impose fresh sanctions on Iranian oil sales.
NEWS |
Oil steady on high OPEC supply ahead of Iran sanctions
Crude oil prices steadied Monday, weighed down by rising supply from OPEC and the U.S., but supported by concerns falling Iranian output will tighten markets once U.S. sanctions begin in November.
NEWS |
Sinopec to produce 146 million barrels in second half of 2018
China’s largest oil refiner Sinopec will produce 146 million barrels of crude oil in the second half of 2018, compared to 143.6 million barrels in the first half, the company said on Sunday.
NEWS |
30 cargoes of Nigeria’s oil await buyers
There are indications that Nigeria’s oil has been over-supplied as 30 unsold cargoes await buyers in the international market. However, an oil market update obtained yesterday showed that the cargoes (...)
NEWS |
Bumi Armada picks up $285m Vietnam contract extension
Bumi Armada secured a $285m contract extension for its FPSO Armada TGT 1 floating production storage and offloading (FPSO) vessel that is currently working offshore Vietnam.
NEWS |
OPEC oil production climbs as Saudi Arabia pumps near record
OPEC’s crude output increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met.
NEWS |
Oil Prices Rebound As Saudis Expect Reduced Exports In August
Saudi Arabia is expecting a reduction in crude oil exports next month, despite earlier signs that Saudi Arabia—and Russia—have started to raise production even before the June 22 meeting with OPEC tha (...)
NEWS |
OPEC expects surge in global production next year
The Organization of the Petroleum Exporting Countries (OPEC) is expecting supplies from other producers to increase by the most in five years in 2019, with the increasing in the United States’ product (...)
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