Friday 22 September 2017
 
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oil market

Market re-balancing at faster rate in H2: Opec

The oil market will need more crude from Libya and Nigeria as it re-balances at a faster rate in the second half of the year after a slow start, Opec secretary-general Mohammad Barkindo said Sunday. Compliance with production cuts

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Oil: Near-term recovery possible, but Opec deal key

There may be supply side risks to the oil market in 2017 in the absence of extension of the Opec output cuts or if US production picks up and without extension of the Opec deal, the market could into surplus in the medium term, a report said.

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Oil market could move into deficit in early 2017: IEA

If Opec sticks to its production target, assessed at 32.7 million barrels per day (mbpd), and non-Opec producers deliver the agreed cuts of 558,000 barrels per day outlined on December 10, then the market is likely to move into deficit in the fi

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Opec deal unlikely to affect oil market balance

Opec has agreed to cut production by roughly 1.2 million barrels per day (mbpd) to 32.5 mbpd, which equates to a 4.5-4.6 per cent cut per member country, said Barclays in a new report. “We believe the outcome is consistent w

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Opec deal to speed up oil market recovery, says Saudi

Saudi Arabia is optimistic that the Opec’s (Organization of the Petroleum Exporting Countries) deal to curb oil output to 32.5 million barrels per day (bpd) will speed up the (market) recovery and benefit producers and consumers, said a re

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Saudi King, Venezuela president discuss oil market issues

Saudi Arabia's King Salman bin Abdulaziz Al Saud yesterday met at his palace in Riyadh Venezuelan President Nicolas Maduro and discussed ways to stabilise the world oil markets, the official news agency SPA said. Maduro is cur

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No tighter oil market before 2018, says Vitol chief

The chief executive of Vitol, the world's largest oil trader, said on Wednesday he did not see the global oil market tightening before 2018. Ian Taylor also expressed scepticism over the significance of a potential OPEC deal o

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Iran 'ready to help restore oil market balance'

Iran is ready to support any decision to help restore balance to the oil market after it regains its pre-sanctions market share, the Iranian oil ministry's Shana news agency reported on Saturday, quoting a minister. "Depu

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Opec's market share at a good level: UAE

Opec's share of the oil market is at a good level, United Arab Emirates Energy Minister Suhail bin Mohammed Al-Mazroui said as the producer group continues to contend with low crude prices. "Regardless of the different vi

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Venezuela, Iran seek accord for oil market stability

Venezuela and Iran continue to seek consensus on ways to stabilize oil markets and strengthen Opec, Venezuelan President Nicolas Maduro said on Saturday, following a meeting with Iranian Foreign Minister Mohammad Javad Zarif. &quo

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