Sunday 21 October 2018
 
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oil market

Opec set to achieve stable oil market, says UAE minister

The Organisation of Petroleum Exporting Countries (Opec) remains optimistic in fulfilling its goal of delivering sustainable oil market stability, thanks to its co-operation with its key partners, said the UAE Minister of Energy and Industry,

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Investment vital as oil market rebalances, UAE minister

The collapse in global oil prices between June 2014 and January 2016 led to nearly $1 trillion in investment being frozen or discontinued with "many hundreds of thousands of jobs" being lost throughout the industry, said the UAE energy

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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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Robust global demand/tight supply for oil in 2018: Report

Next year likely will see global oil demand expand again by 1.5 million barrels per day and US supply rise by 870,000 barrels per day – although Opec likely will at best maintain the cuts implemented in 2017, resulting in a balanced market

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World oil market to reach full stability in 2018, says UAE

The world oil market has the potential to reach full stability in 2018 as the level of inventories are expected to be reduced to a comfortable level, said UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei.

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Oil market stability improving: Opec chief

Current world oil market conditions, returning confidence and optimism in the industry are all evidence of the positive outcome of Declaration of Cooperation, Opec secretary-general Mohammad Sanusi Barkindo said during the Opec and non-Opec Tech

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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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