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Wednesday, October 16, 2019

Tag: Opec

Iran temui medan gas baru bernilai RM160 bilion

Jumlah gas di lapangan baru cukup untuk membekalkan Tehran, bandar raya dengan anggaran penduduk sekitar lapan juta orang selama 16 tahun.

‘Business as usual’ for global oil after swift recovery, says organisation

International Energy Agency says oversupply could help reduce demand next year after Saudi oil attacks.

Oil rises as new Saudi minister signals Opec cuts to continue

Prince Abdulaziz bin Salman has promised to push Opec members to curb production.

Saudi Arabia names Prince Abdulaziz new energy minister

The appointment represents the first time a member of the ruling Al Saud family has held the energy minister post.

Opec output rises for first time since start of 2019 cuts

Nigeria and Saudi Arabia led the boost, which collectively increased by 200,000 barrels a day to 29.99 million a day,

Oil set for weekly decline as economic woes eclipse Opec curbs

Oil is set for the biggest weekly decline since May as global demand concerns outweigh both an Opec+ extension pact and Iran tension worries.

Oil rebounds as US gasoline drop helps to ease post-Opec gloom

Oil rebounds as a drop in US gasoline supplies help crude prices shrug off their biggest decline in a month.

Malaysia sokong perjanjian kurangkan pengeluaran minyak

Pengisytiharan Kerjasama (DoC) akan dilanjutkan selama 9 bulan hingga 31 Mac 2020.

Malaysia supports deal to reduce oil production

Economic affairs minister Azmin Ali says the deal ensures market stability to benefit both producers and consumers.

Oil shares sag as S&P 500 ends at another record

Petroleum-linked shares tumble with oil prices as Wall Street stocks finish a choppy session higher, with the S&P 500 at a second straight record.

Oil slips as gloomy economic data takes shine off Opec deal

Oil edges lower as investors weigh troubling economic data from around the world against Opec’s extension of output cuts into 2020.

Opec agrees to extend output cuts into 2020

The decision still needs to be ratified by non-Opec allies, but several of those nations, most notably Russia, have already given their approval.

Opec set to extend oil supply cut as Iran endorses pact

Iran will support prolonging output cuts by six to nine months.

Shale fight forces OPEC to accept lowest market share since 1991

With OPEC set to extend output cuts for the rest of the year and potentially into early 2020, its share of the oil market is all but certain to drop below 30% for the first time since 1991.

Russia completes its OPEC takeover with deal in Japan

OPEC has come a long way since it sought outside help to cut oil supplies in order to drain excess inventories. 

Oil set for best month since January before crucial meetings

Opec and its allies will then gather in Vienna on Monday and Tuesday to decide on the group’s production levels.

Russia and Saudi Arabia oil bromance is a pairing of convenience

For Russia, the participation in OPEC+ output restraint is less about the needs of its oil industry and more about its President's relationship with Saudi Crown Prince Mohammed bin Salman.

OPEC+ sets date for meeting

The producers' group, which pumps more than half the world’s crude oil, has been bickering for a month about the timing of ministerial talks in Vienna.

Oil steadies as demand worries weighed against OPEC+ output cuts

Focus returns to OPEC’s attempts to fix a meeting on supply cuts.

Oil holds losses as OPEC uncertainty adds to weak US outlook

'Crude remains vulnerable on falling demand expectations from trade uncertainty and OPEC’s inability to solidify its curtailment of future production,' says Ed Moya, chief market strategist.

Saudi Arabia hopes to extend OPEC+ production cuts by early July

Saudi Arabia is seeking to balance global oil markets before 2020.

Saudi Arabia seeks to balance global crude markets before 2020

Saudi Arabia and its allies are expected to extend output cuts into the second half of this year, despite growing tension within the group.

Oil languishes near five-month low after US stockpile surprise

'The market is also trying to assess whether the increase in stockpiles will be offset by the summer driving season in the US,' says commodities analyst Sungchil Will Yun.

OPEC still gridlocked on meeting date amid Iran-Saudi schism

'What’s amazing about this dispute is that it has little to do with the actual content of the agreement – a rollover seems almost certain,' says Croft.

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