Sunday 24 September 2017
 
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oil supply

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 market likely to slide into deficit in H1: IEA

If Opec maintains its current production levels to June when the Vienna output deal expires, there will be a market deficit of 0.5 million barrels per day (bpd) for the first half of 2017, assuming, of course, nothing changes elsewhere in supply

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Oil market likely to slide into deficit in H1: IEA

If Opec maintains its current production levels to June when the Vienna output deal expires, there will be a market deficit of 0.5 million barrels per day (bpd) for the first half of 2017, assuming, of course, nothing changes elsewhere in supply

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Houthis seize tankers in Yemen port over payment row

Authorities in a port controlled by Yemen's Houthi movement have seized two oil tankers from international traders in a payment dispute, according to the ships' owners, an incident which could make it more difficult for the country to im

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Opec sees more oil supply from rivals in 2017

Opec raised its forecast of oil supplies from non-member countries in 2017 as new fields come online and US shale drillers prove more resilient than expected to cheap crude, pointing to a larger surplus in the market next year. De

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Oil prices fall as supply outlook improves

Oil prices fell in early trade on Thursday, with Brent futures struggling to defend $50 per barrel as fears over strike outages in Norway faded and as Nigeria's production improved. International Brent crude oil futures were t

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Opec sticks to output policies as global glut grows

Opec maintained its policy of pumping near-record volumes of oil at a meeting on Friday, according to sources at the group, taking no steps to reduce one of the worst crude gluts in history which has driven down prices. The group,

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Saudi Arabia starts oil supplies to Poland

Saudi Arabia has started supplying crude oil to Poland, the head of Russia's biggest oil company Rosneft said on Tuesday, becoming another Middle Eastern producer to enter a market traditionally dominated by Russia. A global b

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Opec oil output hits 3-year high on Iraq

Opec oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group's top exporters on market share. The boost fro

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