Wednesday 27 September 2017
 
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Opec

IEA increases forecast for world oil demand in 2017

The International Energy Agency (IEA) has raised its forecast for world oil demand in 2017 by 100,000 barrels per day in comparison with the August forecast to 97.7 million barrels per day, according to a media report. IEA expects

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Kuwait to maintain oil output rate till March

Kuwait will continue to implement the current oil production rate until March of 2018, Emirates news agency Wam reported, citing Kuwait News Agency. The Joint Opec-Non-Opec Ministerial Monitoring Committee (JMMC)

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World oil demand to rise by 1.42m bpd in 2017: Opec

World oil demand growth in 2017 is expected to rise by 1.42 million barrels per day (mb/d) after an upward revision of around 50,000 barrels per day (tb/d), according to Opec Monthly Oil Market Report (MOMR). ''The adjustm

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Russia, Saudi Arabia mull Opec deal extension

Oil prices surged higher on Tuesday following reports indicating that Russia and Saudi Arabia are considering extending the oil production cut deal agreed between the members of both Organization of the Petroleum Exporting Countries (Opec) and n

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Iraq, Russia in strategic energy sector talks

Russia and Iraq officials discussed key issues of bilateral and multilateral co-operation in energy sector, including within the Opec and non-Opec ministerial summit, at a meeting held in capital Moscow. Russian Energy Minister Al

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Opec commends UAE compliance with output goals

Opec has commended the UAE’s commitment to adhere to its production adjustments for "the remaining period of the Declaration of Cooperation”, a report said. The Declaration was made at the joint Opec-Non-Opec Prod

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Adnoc to cut October oil supplies by 10pc

The Abu Dhabi National Oil Company (Adnoc) said it would cut its October 2017 crude supplies by 10 per cent across its three export grades: Murban, Das and Upper Zakum, to meet commitments under an Opec deal to curb output.  

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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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