Tuesday 20 February 2018
 
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Oil output

UAE committed to Opec output deal, says energy minister

The UAE will remain committed to the global oil output reduction deal to eliminate the remaining glut on the market which amounts to 100 million barrels to reach the average target of the coming five years, said a report citing the minister of e

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Opec output should remain at current levels to year-end

Despite the deal concluded last December between Opec and non-Opec producers, the cartel’s crude oil supply has followed last year’s upward path, said the Bank of America Merrill Lynch (BofAML) in a new report. The bla

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Opec faces three choices: stay, cut or hike output

The Organisation of Petroleum Exporting Countries (Opec) faces three distinct choices: stay, cut, or hike output at the highly anticipated meeting in Vienna on May 25, said Bank of America Merrill Lynch (BofAML) in a new report. F

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Iran plans 3 mbd rise in oil output capacity

Iran has plans to raise its crude oil production capacity by three million barrels per day (mbd), said a top official of the National Iranian Oil Company (NIOC) on Monday. The move is aimed at promoting and stabilizing the country

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Oil producers achieve 86pc conformity to output cuts

Opec and Non-Opec countries are on target towards full conformity with their adjustments in oil production, according to the Joint Opec-Non-Opec Ministerial Monitoring Committee (JMMC). ''Opec and Non-Opec producers achiev

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Opec to meet one-third of rise in global oil demand

With non-Opec poised to grow again, Opec will need to increase oil output by just 2.2 million barrels per day (b/d) to meet global incremental oil demand of about 5.5 million b/d over the 2017-22 period, added the latest Global Energy Weekly fro

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Opec to meet one-third of rise in global oil demand

With non-Opec poised to grow again, Opec will need to increase oil output by just 2.2 million barrels per day (b/d) to meet global incremental oil demand of about 5.5 million b/d over the 2017-22 period, added the latest Global Energy Weekly fro

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Iran targets oil output from South Yaran by March

Iran will start crude recovery of 10,000 bpd from South Yaran oilfield by March, said a report, quoting the operator of the field's development project. Homayoun Kazemeini added that drilling operations have been completed in

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Opec hopes to keep a floor on oil prices

Facing the prospect of another sharp fall in oil prices, Opec has finally put forward a measure that they hope will keep a floor on oil prices until the next demand season arrives, said Barclays in a new report. Based on media rep

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Iraq questions Opec method on oil output estimates

Iraq on Wednesday questioned one of the two methods Opec is using to estimate the oil production of its members, signalling the issue could be a problem for the country to join output limits that the group agreed to start implementing this year.

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