Monday , January 22 2018

Tag Archives: opec

Kuwait hails OPEC’s role for maintaining market

Deputy Prime Minister and Minister of State for Cabinet Affairs Anas Al-Saleh on Tuesday lauded the key role undertaken by the Organization of Petroleum Exporting Countries (OPEC) for achieving the crude market balance. The minister made the statement during a meeting with the visiting OPEC’s Secretary — General Mohammad Sanusi …

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Kuwait’s Al-Rashidi says any exit from supply cuts to be gradual – OPEC sees balanced market by late 2018

DAMMAM, Saudi Arabia, Dec 13, (RTRS): Kuwait’s oil minister said on Wednesday the oil market was expected to rebalance towards the end of 2018 and any strategy to exit a deal on supply cuts between OPEC and non-OPEC oil producers would be gradual. “Market fundamentals have improved significantly in the …

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OPEC await Russia’s call

OPEC’s meeting in Vienna last Thursday didn’t last long. Like the previous meetings, it needed a simple nudge from Moscow, which happened. Thus, an agreement was reached to extend the current production cuts of 2.8 million barrels per day until the end of 2018. OPEC is no longer in the …

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General deal seen among oil producers to extend cuts – Crude prices drop on pre-OPEC nerves

VIENNA, Nov 29, (Agencies): Kuwait Oil Minister Essam Al-Marzouq said Tuesday a ministerial market monitoring committee would examine oil output levels for October and producers’ commitment to production cuts, then refer recommendations to an OPEC meeting. Ministers from OPEC and non-OPEC will thoroughly discuss on Thursday whether to extend production …

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‘Kuwait produces 3.15 mln bpd, committed to OPEC output deal’ – Oil and gas measurement is an essential issue – KOC

KUWAIT CITY, Nov 19, (KUNA): Kuwait’s crude output stands at 3.15 million barrels per day (bpd) at present, and the country is fully committed to the production ceiling set by OPEC, a senior official in the oil industry said on Sunday. Deputy CEO of the Kuwait Oil Company (KOC) Ismail …

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The hard fact

THE optimism in the oil producing nations as the oil price hovers above $60 a barrel will not last in the absence of any alternative to replace oil. The belief that oil will once again reach the level of $90 and $100 is not going to happen since the United …

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Russia stretches its oil diplomacy – Kremlin influence admired

By utilizing its giant oil companies to gain access to oil and gas in the producing countries, either through joint ventures, or direct cash and loans, the influence of Russia is respected and admired. It began last year when OPEC cut crude production by strictly adhering to the terms of …

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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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