Saturday 24 February 2018
 
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Opec

Opec sees record conformity to output cut deal

Opec and participating non-Opec producing countries have started 2018 with an outstanding conformity level in their voluntary production adjustments, reaching over 130 per cent, said a report. The conformity level for December 201

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Oil prices to average $50-$70 till 2023: BofAML

Brent crude oil prices are expected to average $50 to $70 per barrel (/bbl) in a medium-term horizon to 2023, said the Bank of America Merrill Lynch (BofAML) in its latest Global Energy Paper.  This forecast range co

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Oil prices to average $50-$70 till 2023: BofAML

Brent crude oil prices are expected to average $50 to $70 per barrel (/bbl) in a medium-term horizon to 2023, said the Bank of America Merrill Lynch (BofAML) in its latest Global Energy Paper.  This forecast range co

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Oil market likely to rebalance this year, says Opec chief

With the Opec and non-Opec alliance working to eliminate the remaining glut on the oil market amounting to 75 million barrels, the UAE energy minister said stability was slowing returning and the market was likely to rebalance this year.  

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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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