Friday 28 April 2017
 
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Opec

Oil producers at ease as output deal reaches half-time

It is now half time for the six-month oil production cuts agreed by Opec and eleven non-Opec countries and so far, the game has gone fairly well for producers, says the International Energy Agency (IEA) in a new report. Prices hav

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Brent may hit $57 if Opec extends output cuts

Brent crude may average $57 for a barrel this year, if a six-month extension of Opec production cut is realised, said a report citing Samba Financial Group.   Next year, Brent crude may average higher – $62

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Global economic growth seen at 2.8pc this year

Buoyed by a strong US economy, as well as improving outlooks for many emerging market economies, world economic growth is forecast to increase 2.8 per cent in 2017, compared to 2.5 per cent in 2016, a report said. However, substan

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Opec raises forecast on 2017 global demand for oil

Opec has raised the forecast on growth of global demand for oil in 2017 by 10,000 barrels a day to 96.32 million barrels a day, the organization said in its monthly oil market report for April. According to the renewed forecast, i

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Will 2017 signal upstream to start spending big again?

The future of upstream energy 2017 has started on a more optimistic note than what we have seen in the past couple of years. If we consider where we were this time last year we had oil prices under $30 per barrel. The optimism tha

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UAE cuts oil output by 200,000bpd: minister

The UAE reduced its oil production by nearly 200,000 barrels per day this month due to maintenance works, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy, said. Al Mazrouei, who was speaking on the sidelines of the

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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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Oil price, industry safety top agenda at StocExpo

The role of the Middle East in the global oil market and the impact of Opec production cuts will be at the heart of conference discussions at this year’s StocExpo Middle East Africa, taking place at the Dubai World Trade Centre on April 26

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Global oil supply likely to lag demand after 2020: IEA

Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast from the International Energy Agency.

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