INDICES
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Russia, Saudis Move at a Different Pace as Oil Cuts Scrutinized
EghtesadOnline: Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and hare of a global deal to cut oil supply, with Moscow sticking to a slow and steady pace despite Riyadh’s cajoling.
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OPEC, Allies Meet as Oil Market Warns Them: Job's Not Done
EghtesadOnline: OPEC and allies reviewing the impact of their oil cuts this weekend face a market with an unambiguous message: their work is far from done.
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OPEC leans toward oil cut extension, but non-members need to be in: sources
EghtesadOnline: OPEC oil producers increasingly favor extending beyond June a pact on reducing crude supply to balance the market, sources within the group said, although Russia and other non-members need to remain part of the initiative.
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Oil Drops as U.S. Drilling Growth Threatens to Counter OPEC Cuts
EghtesadOnline: Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market.
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Iran to keep oil cap at 3.8 million barrels a day in second half 2017
EghtesadOnline: Iran will keep its oil production cap at 3.8 million barrels per day in the second half of 2017, the oil minister said on Tuesday, provided other OPEC members stick to the output level they agreed in November.
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Saudi Arabia Says Oil-Supply Cuts May Be Extended If Needed
EghtesadOnline: OPEC and its allies may prolong production cuts after they expire in June if the world’s crude inventories remain excessive, Saudi Arabia’s Energy Minister said.
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Saudi ‘Mission Impossible’ Makes Longer OPEC Oil Cuts Inevitable
EghtesadOnline: Saudi Arabia has set a near-impossible target to end the current round of OPEC oil-production cuts, indicating that a policy rollover into the second half of the year is a near certainty.
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Oil Stocks Rise Regardless of Supply Adjustments
EghtesadOnline: OPEC said on Tuesday oil inventories had continued to rise despite the start of a global deal to cut supply and raised its forecast of production in 2017 from outside the group, suggesting complications in the effort to clear a supply glut.
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Kuwait Becomes First OPEC Nation to Call for Longer Oil Cuts
EghtesadOnline: Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted prices initially on the curbs has faded.
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OPEC's Best Signal of Success No Longer Looks So Promising
EghtesadOnline: When OPEC announced production cuts last year, the most reliable indicator of oil-market supply started signaling a shortage ahead. Now it’s pointing the other way.