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Friday, June 21, 2019

Tag: Opec

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.

Oil drops below US$54 as global recession and supply concerns mount

The countries have so far stop short of making any specific commitments on output volumes once the current OPEC+ agreement expires at the end of June.

Russia meets its OPEC+ target in May

May was the first full month of compliance by Russia this year, producing 76,000 barrels a day below the cap for the nation set under the OPEC+ deal.

Oil climbs as OPEC signal on output curbs overshadows trade risk

The possible extension of supply curbs by the Organisation of Petroleum Exporting Countries and its allies could be a catalyst for oil to resume this year’s rally.

Saudi minister in favour of reducing oil inventories

Al-Falih says OPEC will be able to reach the best decision on output when they will have more data in their next meeting in June.

Saudi minister says oil stocks still building, but OPEC to act...

OPEC's agreed share of the cuts is 800,000 bpd, but its actual reduction is far larger due to the production losses in Iran and Venezuela.

Russia seen aiming to share Saudi output hike as OPEC+ meets

Russia will join the OPEC+ talks this weekend having barely fulfilled its pledged production cuts, but keen to secure a share of any potential output increase.

Top oil buyers rue global chaos bringing back seller’s market

"With OPEC keen to avoid last year’s mistakes where they pre-emptively raised supply, buyers will need to pay up before producers raise output.'

RON97 down 1 sen, RON 95 and diesel prices remain unchanged

The government will spend RM130.45 million in subsidies to rein in the price of fuel from May 4 to May 10.

American refiners clean up their act as Opec shipments dry up

Starved of OPEC supplies, American refiners in February processed the least-dense crude in data going back to 1985.

Russia won’t immediately raise oil output after Iran waivers end

Russia is ready to meet demands of partners all around the world but will respect an agreement made with OPEC which is in force until July.

Oil climbs toward US$75 in London after US’s Iran crackdown

Oil had already climbed almost 40% this year as Opec nations reduced production.

Oil prices slip, but ongoing supply cuts support

US crude inventories fell by 1.4 million barrels in the week to April 12, compared with analyst expectations for an increase of 1.7 million barrels.

US-Iran imbroglio boosts obscure heavy crude oils

The impact of lower Iranian exports can be seen in pricing moves for various crude grades in the region.

Iraq finally pumping enough oil to flex muscles in Opec

Iraq was exempted from Opec production quotas for almost two decades, a concession granted because the country had been mired in conflict since 1980.

Oil edges higher amid tightening global supply, gains capped by economic...

Oil markets have been tightened this year by US sanctions on oil exporters Iran and Venezuela.

Opec+ learns from past as new oil cutbacks hit mark

By cutting supply, Opec and its allies prevented the re-emergence of a surplus due to booming US shale output and a slowing global economy.

Oil extends rally as fighting in Libya adds another supply risk

“Supply disruptions in Libya are lifting prices at a time when appetite for risk assets is rising as concerns over global growth ease,”

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