Saturday 30 July 2016
 
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Output

Non-Opec oil output decline rates speed up

Non-Opec oil field decline rates have accelerated to 5 per cent as a result of the impact on output from a 41 per cent or $285 billion reduction in global oil & gas capex from the 2014 peak, a Bank of America Merrill Lynch (BofAML) report

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Oil prices fall on oversupply concerns despite output cuts

Oil prices eased on Tuesday as concerns over a crude and refined fuel glut outweighed an expected cut in US shale production and a probable further draw in US crude inventories.   Crude prices fell more than 1 pe

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Algeria boosts oil output at two major fields

Algeria has boosted output in recent months at two major oil fields, including the Hassi Messaoud field, an oil official said, as the Opec member strives to maximise production to make up for lost revenue.   Prod

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Jam Petrochemical Plant reaches output capacity

Jam Petrochemical Plant, a leading polypropylene producer in Iran, has approached its nominal output capacity of polypropylene, said a senior company official in a report. The company’s production reached 48,000 tonnes in th

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Jam Petrochemical Plant reaches output capacity

Jam Petrochemical Plant, a leading polypropylene producer in Iran, has approached its nominal output capacity of polypropylene, said a senior company official in a report. The company’s production reached 48,000 tonnes in th

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Saudi Arabia keeps May oil output steady at 10.270 mbpd

Saudi Arabia has kept its crude oil production steady in May, a sign that the world's biggest oil exporter does not plan to flood the market to gain more market share. Saudi Arabia's crude oil production in May was 10.270

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Opec sees oil glut shrinking in second half of year

Opec has forecast that the world oil market will be more balanced in the second half of the year as outages in Nigeria and Canada help erode a supply glut that has weighed on prices more quickly than expected.  

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China’s crude steel output advances despite trade tensions

China’s crude steel output climbed in May as the world’s biggest producer continues to churn out supply in defiance of complaints that it’s swamping the world market, said a Bloomberg report. Output rose to 70.5

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Oman's April oil output down 1.4pc

Oman's oil production stood at 29.8 million barrels in April, the National Centre for Statistics and Information said on Tuesday, down 1.4 percent from March. The drop was attributed to the decline in crude oil by 2.5 percent

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Opec keeps output policy unchanged; no ceiling

Saudi Arabia promised on Thursday not to flood the oil market with extra barrels even as Opec failed to agree on output policy, with Iran insisting on the right to raise production steeply. Tensions between the kingdom and Iran ha

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