Saturday 19 August 2017
 
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Opec

Non-Opec countries ‘will raise supply in 2018’

The oil producing countries outside Opec will increase their supply of oil produced in 2018 by 1.1 million barrels per day in comparison with the level of 2017 to 58.87 million barrels per day, a report said. That is slightly lowe

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Oil producers set for key meeting in Abu Dhabi

A joint meeting of the Opec-Non-Opec Technical Committee is convening today in Abu Dhabi in order to identify ways and means of raising the levels of conformity with their pledges to cut oil production.   The two

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98pc global compliance in limiting oil output: Kuwait

The commitment rate to an agreement on limiting oil production by the Organisation of the Petroleum Exporting Countries (Opec) member countries and non-Opec countries was around 98 per cent last June, said Essam Al-Marzouq, Minister of Oil of Ku

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UAE move on oil supply a model, says minister

Abu Dhabi National Oil Company's (Adnoc) decision to cut crude allocations by 10 per cent for September can become a model for other national oil companies inside and outside Opec to achieve market stability, said Suhail bin Mohammed Faraj F

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Oil to stay between $50-55 in H2, 2018: Barclays

Brent prices are likely to stay in the $50-55 range in the second half of 2017 and to average in the same range in 2018, said Barclays in its latest Oil Instant Insight. Despite the statements in the communiqué of

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Market re-balancing at faster rate in H2: Opec

The oil market will need more crude from Libya and Nigeria as it re-balances at a faster rate in the second half of the year after a slow start, Opec secretary-general Mohammad Barkindo said Sunday. Compliance with production cuts

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Opec oil ministers set for crucial Russia meeting

Oil ministers of Organization of the Petroleum Exporting Countries (Opec) will be meeting their counterparts from the non-Opec countries in Saint Petersburg in Russia on tomorrow to assess conformity with a recent output cut resolution, said the

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Saudi official named Opec's research head

The Opec Board of Governors has confirmed the appointment of Saudi Arabia's Dr Ayed S Al-Qahtani as the new director of Research Division. The board also appointed new heads for the Energy Studies and Petroleum Studies departm

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Crude spreads tightened over Opec deal

The Opec/non-Opec deal has had a meaningful impact on crude grade differentials across the world, a report said, highlighting that light versus medium or heavy grades have continued to tighten substantially in the past six months.

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Demand for Opec oil to fall next year

Opec has forecast that world demand for its crude will decline next year as rivals pump more, pointing to a market surplus in 2018 despite an Opec-led output cut, a

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