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Oil firm on expected cut extension, but economic slowdown weighs

SINGAPORE (Reuters) - Oil prices were firm on Tuesday on the expectation that an OPEC-led production cut would be extended to next March, but analysts said economic slowdown was clouding the mid-term..

'Iraq agrees to 9-month extension of OPEC production cut'

Iraq has agreed to a nine-month extension of a production cut pact among OPEC members that is aimed at boosting crude prices, the country's oil minister said today.

Videos for "Opec Production"

News video: MercBloc's Dicker Says Oil Won't Dip Under $50 Again

MercBloc's Dicker Says Oil Won't Dip Under $50 Again 05:51

May.22 -- Dan Dicker, president at MercBloc, and Reva Goujon, vice president of global analysis at Stratfor, discuss the market impact of a potential extension of OPEC production cuts ahead of the..
Source: Bloomberg Global Business -

News video: Saudis Confident in Extension of Oil Cuts for 9 Months

Saudis Confident in Extension of Oil Cuts for 9 Months 02:56

May.20 -- Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid Al-Falih discusses OPEC production cuts. He speaks with Bloomberg’s Francine Lacqua at the Saudi-U.S. CEO Forum in..
Source: Bloomberg Technology -

News video: Global Financial News: Trump Allegations Hit Global Markets

Global Financial News: Trump Allegations Hit Global Markets 00:37

Here is your round-up of the financial news from around the world: 1. European stocks open lower as global investors pull back from both risky assets and the U.S. dollar amid the ongoing political..
Source: The Street -

News video: OMV's CEO Sees Oil at $55 a Barrel for 2017

OMV's CEO Sees Oil at $55 a Barrel for 2017 06:20

May.11 -- Rainer Seele, chief executive officer at OMV, discusses refining margins, his call on oil, the future of OPEC's production cut and investing in Iran. He speaks on "Bloomberg Daybreak:..
Source: Bloomberg Global Business -

News video: Wake Up Wall Street: Trump Fires FBI Director Comey

Wake Up Wall Street: Trump Fires FBI Director Comey 01:04

This is what you need to know before the bell: President Donald Trump Fires The FBI Director James Comey. Investors keep a keen eye on political developments in the U.S. Crude prices rise amid..
Source: The Street -


India ticks off Opec for price bias 

On a day global oil prices jumped nearly one per cent to 53.89 on expectation of Opec extending its production cut deal, India on Monday reminded the grouping of oil exporting countries that..

OPEC output cut to shift buyers to new suppliers - Oil Minister Dharmendra Pradhan

VIENNA/NEW DELHI (Reuters) - India said on Monday OPEC production cuts and the prospect of more expensive oil were pushing the world's third biggest consumer to consider U.S. and Canadian suppliers, as..
Reuters India

Why OPEC's Promises Aren't Enough to Please the Oil Gods

Major oil producers support extending OPEC’s production cutbacks, but yet few traders believe the oil market is on the verge of a breakout. Here’s why.
Wall Street Journal

This Could Be Oil’s Last Trip Into The $40’s

No need to bury the lede in this week’s column: OPEC will extend production guidelines in next week’s meeting in Vienna, and extend them even more than originally planned. The oil market wondered..

U.S. Shale Is Turning Up The Heat On OPEC

OPEC has been restraining production since the beginning of the year, after a group of cartel members teamed with Russia and other non-OPECs and agreed to production cuts last November. In total, the..

Putin, Maduro Discuss Oil Markets As Support For Output Cut Extension Grows

Russian President Vladimir Putin and Venezuela’s President Nicolas Maduro discussed the global oil markets situation in a telephone call at Venezuela’s initiative, the Kremlin said on Thursday, as..

Oil Prices Edge Higher As U.S. Oil Inventories Fall Again

Amid fresh hopes that the extension of the OPEC production cut deal might actually do the trick, the Energy Information Administration reported a fresh draw in crude oil inventories for the week to May..

Goldman’s Two Conditions For A Successful OPEC Deal

Goldman, which has been pushing for higher oil prices with seemingly daily bullish research reports for the past month, underwrote the last Saudi Arabian bond issue and is expected to manage the Aramco..

Russian Oil Companies Won’t Receive Compensation For Cut Extension

Russia’s oil companies that are taking part in the OPEC-led production cut effort will not receive any compensation for the reduced output, Energy Minister Alexander Novak said. A preliminary..

Will A 9-Month Production Cut Extension Be Enough?

Oil prices surged on Monday after Russia and Saudi Arabia said they support an extension of the OPEC/non-OPEC production cuts. Oil prices have clawed back a lot of the losses exhibited over the past..

U.S. Shale Is Immune To An Oil Price Crash In 2017

Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is..

Caspian Pipeline To Boost Oil Exports In 2017

The Caspian Pipeline—which runs from the giant Tengiz oil field in Kazakhstan to a sea terminal near Novorossiysk in Russia—plans to increase its exports to the world markets to 65 million tons..

Non-OPEC Turkmenistan May Join Oil Production Cuts

Turkmenistan—a small non-OPEC oil producer on the Caspian Sea and bordering Iran and Kazakhstan—may join the NOPEC group of nations part of the OPEC-led production cut deal, OPEC and industry..

Russian Producers Fall Behind As Big Oil Booms

While Big Oil beat analyst expectations with its first-quarter performance, Russia’s biggest player in the field, Rosneft, missed expectations, reporting US$200 million in net profits for the period...

Libya, Nigeria, And Iraq – A Triple Threat To The OPEC Deal

Saudi Arabia’s energy minister Khalid al-Falih tried to put the markets at ease by all but confirming that OPEC would extend its production cuts through the end of the year. He tried to talk up oil..

IEA Sees Oil Market Supply Deficit Deepen Significantly This Year

Global oil demand will exceed supply in the second quarter, and even more so until the end of the year, if OPEC extends the production cuts, according to Neil Atkinson, head of oil analysis at the..

Bullish EIA Inventory Data Boosts Crude Prices

Amid increasingly stronger signals from OPEC that the production cut extension will be extended into the second half of 2017 and even beyond that, the EIA reported a draw in crude oil inventories of..

Oil prices rise on expectation of output cut extension

SINGAPORE (Reuters) - Oil prices rose on Monday on a growing conviction that an OPEC-led production cut initially scheduled to end in June would be extended to cover all of 2017, although a relentless..

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