Sunday , November 19 2017

Tag Archives: opec

Kuwait abides by OPEC’s oil output quota: KOC chief exec – OPEC, non-OPEC compliance with output cuts reach 120%: JMMC

KUWAIT CITY, Oct 22, (KUNA): Kuwait has affirmed its adherence to the crude oil output quota as set by the Organization of Petroleum Exporting Organization (OPEC), estimated at 2.707 million barrels per day (more) Jamal Jaafar, Chief Executive Officer of Kuwait Oil Company (KOC), said on Sunday that the company …

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OPEC begging shale oil producers for help! – New Saudi-Russia alliance seems best for market stability

Last week out of the blue, OPEC’s secretary general openly asked US shale oil producers to help the oil organization by coordinating and assisting the oil group in stabilizing the oil prices by managing their production throughputs. Such a surprise call from OPEC shows that the organization is desperately making …

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China ‘teapots’: The new importers of oil – ‘Price of the barrel will depend on future growth and demand for oil’

They appeared in Singapore two weeks ago to contract and attempt to buy 2.5 million barrels per day, which is the official quota of oil imports granted to them by the government. Teapots are the new oil traders that are trying to find a place in the Chinese oil market …

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OPEC says ‘winning’ battle to end oil glut – Deal due to expire in March 2018

VIENNA, Sept 23, (RTRS): OPEC and other oil producers are clearing a glut that has weighed on crude prices for three years and may wait until January before deciding whether to extend their output curbs beyond the first quarter of 2018, ministers said on Friday. The Organization of the Petroleum …

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OPEC could hold extraordinary meeting in March: Kuwait – Extension of supply cut pact being discussed among oil producers

KUWAIT CITY, Sept 13, (RTRS): Kuwait’s Oil Minister Essam al-Marzouq said on Wednesday that OPEC could hold an extraordinary meeting in mid-March if oil producers did not reach a decision to extend their supply cut pact when it next meets in November. “In the coming November meeting, we may not …

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OPEC output falls, sees higher demand – Compliance slips

LONDON, Sept 12, (RTRS): OPEC on Tuesday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non-member countries is helping to tackle a supply glut that has weighed on prices. In a monthly report, the Organization of …

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US oil inventories falling more than expected due to OPEC cuts: Kuwait – OPEC oil supply set for sharp drop in August

LONDON, Aug 21, (RTRS): US crude inventories are falling more than expected in a sign of the success of OPEC and non-OPEC production cuts, Kuwait’s Oil Minister Essam Al-Marzouq told CNBC Arabia on Monday. “We are now seeing the impact of those cuts (in the first half of the year) …

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US oil inventories falling more than expected due to OPEC cuts: Kuwait – OPEC oil supply set for sharp drop in August

LONDON, Aug 21, (RTRS): US crude inventories are falling more than expected in a sign of the success of OPEC and non-OPEC production cuts, Kuwait’s Oil Minister Essam Al-Marzouq told CNBC Arabia on Monday. “We are now seeing the impact of those cuts (in the first half of the year) …

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Oil prices rally on stock drawdowns, signs of slowing US output growth – OPEC output rises in June as Libya and Nigeria ramp up production

KUWAIT CITY, Aug 14: Prices made a strong comeback in July, reversing the bear trend of the last couple of months and returning to the symbolic $50 per barrel mark. Markets witnessed a reversal in sentiment in July, sparked by several factors including: OPEC banding together to recommit to production …

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