Saturday , August 18 2018

Tag Archives: opec

OPEC only choice; the limit is reached

To bring the oil prices down to an acceptable “White House” level, which is less than $80 per barrel, the USA administration must ensure all oil-producing countries including OPEC member states continue to maintain the current input. This is prov i d e d Venezuela, Libya, Angola and Nigeria are …

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Kuwait to raise oil output by 85,000 bpd, says oil minister

Saudi boosts oil supply close to record high in June RIYADH, June 30, (RTRS): Kuwait will raise oil output by 85,000 barrels per day (bpd) starting on Sunday, part of an agreement between OPEC and non-OPEC producers to increase production by one million bpd, Energy Minister Bakhit al-Rashidi told a …

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Kuwait to raise oil output after OPEC deal: Al-Rashidi

‘Deal positive’ VIENNA, June 24, (KUNA): Kuwait will increase oil output in line with a recent OPEC agreement to open taps for one million barrels per day (bpd), a deal that will have “positive” impacts on markets, Oil Minister Bakheet Al-Rashidi said Saturday. He was speaking to KUNA after a …

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7th OPEC Int’l Seminar kicks off in Vienna

The 7th OPEC International Seminar kick started in Vienna, Austria, Wednesday under the theme, “Petroleum — cooperation for a sustainable future”. Kuwait’s Minister of Oil and Minister of Electricity and Water Bakheet Al-Rasheedi is taking part in the two-day major event. The seminar, held at Vienna’s Imperial Hofburg Palace, provides …

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OPEC braces for tough Vienna talks

Saudi, Russia push for hike in output LONDON, June 19, (AFP): OPEC ministers gather in Vienna Tuesday for crunch talks on a landmark pact curbing oil output, with Saudi Arabia and Russia hoping to persuade their peers to increase production again. The upcoming June 22-23 meetings of OPEC and non-OPEC …

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OPEC will squeeze oil ‘buffer’ to historic lows with production hike

Falling inventories add to conundrum facing industry LONDON, June 14, (RTRS): The oil industry will face the biggest squeeze on its spare production capacity in more than three decades if OPEC and its allies agree next week to hike crude output, leaving the world more at risk of a price …

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Tehran slams US for seeking Saudi oil output hike

OPEC likely to reject Iran request for discussion of sanctions DUBAI, June 9, (RTRS): OPEC is likely to reject a request by Iran to discuss US sanctions against Tehran at this month’s meeting of the oil producer group, a source familiar with the matter told Reuters. Iran’s OPEC governor Hossein …

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OPEC says no to oil at $80 a barrel … too fast too soon

Next step is to gradually balance supply Oil consumers agree that the price level of $80 per barrel is too high and has to be adjusted soon. This is what OPEC and Russia are doing to bring order to the oil markets and some relaxation on the production volume. This …

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Kuwait, OPEC will work to reduce any shortage of oil supplies: min

‘Supply, demand balance aims at stabilizing oil market’ KUWAIT CITY, May 10: Minister of Oil and Electricity and Water Eng Bakheet Al-Rasheedi said Kuwait and the Organization of Petroleum Exporting Countries (OPEC) and the independents will work to reduce any shortage of oil supplies, saying there is sufficient production capacity …

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Kuwait reiterates OPEC output cut conformity

Market has capacity to absorb higher oil prices: Saudi minister JEDDAH, April 21, (Agencies): The State of Kuwait has been committed to cutting oil production so as to restore balance at global markets, Kuwaiti Minister of Oil, Electricity and Water Bakheet Al- Rashidi said on Friday. The minister made the …

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