OPEC Nears Extending Production Cuts
More talks are still needed with non-OPEC producers that were part of the output deal.
OPEC | Egypt Oil & Gas - Part 17
Oil Prices Surge 2%, Brent Restores $70 Level
Concerns regarding crude supplies as well as the geopolitical tensions in the Middle East led to a surge in the global oil prices by more than 2%.
Oil Market to Balance by End-2019
The Kuwaiti Oil Minister expects the market to achieve balance by the end of 2019, yet OPEC will continue to work on maintaining stability.
OPEC Expects Growing Oil Demand in 2019
OPEC maintained its estimates for the growth in demand in 2019 steady at 1.21 million barrels per day but expects supply growth to slow in non-OPEC producers.
Russia Remains Undecided on OPEC Output Deal
Russian Energy Minister, Alexander Novak said that it was too early to speak about preferable options, adding that “we should do what is more expedient for us.”
Gazprom Sees OPEC-Led Deal Ending in H1 2019
Gazprom Neft now assumes the deal will be effective until the middle of the year.
OPEC-Led April Meeting Postponed
The meeting might be canceled to assess the impact of the production cuts on the market especially under US sanctions on Iran and Venezuela
Qatar Announces OPEC Exit
Qatar announced on December 3 that it will exit the Organization of the Petroleum Exporting Countries (OPEC) and increase its focus on gas.
OPEC, Russia Agree 1.2 Million b/d Production Cut
The Organization of the Petroleum Exporting Countries (OPEC) and its Russia-led allies (OPEC+) agreed to reduce oil production by around 1.2 million barrels per day (b/d) during a meeting in Vienna on December 6.
Saudi Crude Production Hits Record Highs in Early November
Saudi Arabia's crude production hit record highs in early November following large orders made in early October in preparation for the loss of Iranian crude from the market.
