Tuesday 20 February 2018
 
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Opec

Opec giants plan super group to stabilise oil market

Plans for a super group of oil producing countries could be in place by year-end as Opec works to institutionalise the ongoing collaboration between 24 member and non-member nations that has helped crude prices to recover, said a report.

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Saudi growth recovers on high oil prices: report

Saudi Arabia’s economic activity has bottomed out as high oil prices are allowing implementation of looser fiscal policy and containing near-term fiscal deterioration, said the Bank of America Merrill Lynch (BofAML) in a new report.

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World oil demand seen at 98.6 mbpd in 2018

World oil demand is foreseen to reach 98.60 mbpd in 2018, representing growth of 1.59 million barrels per day (mbpd), 60,000 barrels per day higher than the previous month’s projections and mainly reflecting the positive economic outlook,

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Two Opec nations set to open giant oilfields

Two Opec (Organization of Petroleum Exporting Countries) member countries - Angola and Nigeria - will bring giant oil fields online this year, testing their commitment to cap output amid a global push to curb supply, said a report.

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Kuwait oil output to hit 3.2 mbpd by March

Kuwait's oil production capacity will reach 3.255 million bpd by the end of next March, Kuwait's Oil Minister and Minister of Electricity and Water Bakheet Al-Rashidi was quoted as saying in a media report. The volume of K

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Global oil usage ‘likely to top 100 mbpd in 2018’

Average global consumption was 93.6 million barrels per day (b/d) in 2014, and is likely to increase to 100.1 million b/d in 2018 and 101.8 million b/d in 2019, said a report. The optimal level of inventories to meet surge in dema

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Oil demand growth to hit 1.53 mbpd in 2018

Oil demand growth is anticipated to be around 1.53 mbpd in 2018, following a marginal upward adjustment compared to last month’s report, with global oil demand now expected to reach 98.51 mbpd, a media report said. Non-OECD

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Record conformity for oil output deal

Opec and participating non-Opec countries have achieved a record conformity level of 129 per cent with their voluntary production adjustments, announced the Opec/Non-Opec Joint Ministerial Monitoring Committee (JMMC) following its seventh meet

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Opec may end cuts early as prices hit new high, say experts

As oil trades near a three-year high and crude stockpiles fall rapidly, analysts are questioning whether the Organization of Petroleum Exporting Countries (Opec)-led production cuts will last until the end of the year.   

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Brent could average at $64 in 2018: report

The expected drop in OECD inventories suggests that oil prices will likely be higher in 2018 than originally seen and Brent crude oil price is projected to reach $64 per barrel (/bbl) this year, said the Bank of America Merrill Lynch (BofAML) in

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