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Saudi Arabia Likely to Back Extending Oil Output Cuts

2017/04/13 13:56

EghtesadOnline: Saudi Arabia is likely to support extending OPEC output cuts into the second half of 2017 in an effort to boost oil prices, according to a person familiar with the kingdom’s internal discussions.

Oil Extends Longest Gain of 2017 as Saudis Seen Extending Curbs

2017/04/12 13:02

EghtesadOnline: Oil advanced for a seventh day in New York, the longest gain since December, on confidence Saudi Arabia will support an extension to OPEC-led output cuts just as U.S. stockpiles show signs of shrinking.

Brent Hits One-Month High

2017/04/06 22:41

EghtesadOnline: Oil hit a one-month high near $55 a barrel on Wednesday as a drop in US crude inventories raised hopes that OPEC-led supply restraint is clearing a glut, while an outage at a UK North Sea oilfield lent support.

OPEC's Barkindo Sees Progress in Oil Cuts as Stockpiles Shrink

2017/04/03 08:42

EghtesadOnline: Crude stockpiles are starting to decline in a sign that the production cuts implemented this year are bringing the market to balance, according to OPEC’s Secretary-General Mohammad Barkindo.

Oil Caps Biggest Weekly Gain in 2017 as OPEC Eyes Deal Extension

2017/04/01 23:57

EghtesadOnline: Oil capped its biggest weekly increase this year amid speculation OPEC will extend its deal to curb output and ease a global glut.

Russia Needs Data on Oil Supply, Markets to Decide on More Cuts

2017/03/27 17:29

EghtesadOnline: Russia isn’t ready to support a possible extension of oil-supply cuts into the second half of the year, even as more crude producers acknowledge they will probably need to do so to achieve their goals of balancing the market and firming up prices.

Oil Speculators Can't Dump Rally Bets Fast Enough Amid Glut

2017/03/27 15:52

EghtesadOnline: The bullish sentiment following OPEC’s deal is almost all gone. Hedge funds haven’t been so skeptical on rising West Texas Intermediate crude prices since Nov. 29, the day before the cartel agreed to cut output, according to U.S. Commodity Futures Trading Commission data.

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