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1-10 results from 234 for query «opec»

August 13, 2018 2:13 PM OPEC output rises in July on Nigeria, Kuwait, UAE supplies

Mubasher: Oil production from the Organization of Petroleum Exporting Countries (OPEC) rose in July, despite supply shortfalls from Libya, Iran and Saudi Arabia, while rising output from Nigeria, Kuwait and the UAE offset the drops. OPEC production averaged 32.32 million barrels per day (bpd) in July, 40,700 higher than June, according to the group’s 2

August 9, 2018 9:13 AM Iran claims OPEC committee attempts to reallocate supply quotas

Mubasher: Iran accused the Organization of Petroleum Exporting Countries’ (OPEC) Joint Ministerial Monitoring Committee (JMMC) of an improper attempt to redistribute oil production quotas among some members. The accusation came in Iranian Oil Minister Bijan Zanganeh’s letter to the UAE Energy Minister and current OPEC president Suhail Al Mazrouei, during 2

July 31, 2018 10:58 AM OPEC July output hits highest in 2018 despite outages

Mubasher: The Organization of Petroleum Exporting Countries (OPEC) has ramped up oil production in July to the highest level in 2018, as Gulf members pumped more output and Congo Republic joined the group, a recent survey found. OPEC output totalled 32.64 million barrels per day (bpd) this month, rising by 70,000 bpd from the previous month, according 1

July 12, 2018 8:46 AM OPEC forecasts fading 2019 demand, notes glut return

Mubasher: The Organization of Petroleum Exporting Countries (OPEC) predicted that global demand for its crude will decline next year on slower consumption and higher supplies from rivals, pointing to recurrent market surplus despite its supply cut deal. Global market would need 32.18 million barrels per day (bpd) from OPEC’s 15 members in the coming 11

July 12, 2018 12:00 AM Nymex down 5% to lowest level in 2 weeks

Mubasher: Oil prices fell on Wednesday, recording its lowest level in two weeks. The Organization of the Petroleum Exporting Countries’ (OPEC) monthly report showed an increase in production by member states by around 173,400 barrels per day to a total of 32.327 million barrels per day, which rose concerns regarding an oversupply, especially as OPEC is expecting 6

July 2, 2018 7:45 AM Oil dips as Saudis hike output to offset disruptions

Mubasher: Oil prices dropped by more than 1% on Monday, driven by the prospects of rising output from Saudi Arabia, as US President Donald Trump pushed the world's major oil producer to offset disruptions across the globe. US Nymex futures fell 1.2% to $73.26 per barrel (pb) early on the day from their last trading session, after surging more than 8% last week, while 4

June 28, 2018 3:49 PM Oil may surpass $90pb on cease of Iranian crude imports

Mubasher: US President Donald Trump sustained attempt to disrupt Iran’s oil exports would push crude prices above $90 per barrel (pb), according to an analyst. “We are in a very attractive oil price environment,” given the supply disruptions taking place all over the world, and President Trump’s frantic activity in urging US allies to stop purchasing 3

June 26, 2018 2:54 PM OPEC deal set no specific output hike – Iran’s Zanganeh

Mubasher: Iranian oil minister Bijan Zanganeh said that the deal struck by the members of the Organization of Petroleum Exporting Countries (OPEC) did not specify an output increase of 800,000 barrels per day (bpd). The figure was just the interpretation made by some OPEC members, the top official told the ministry's news agency SHANA, which further 4

June 23, 2018 3:21 PM Saudi Arabia invites Russia to join OPEC

Riyadh - Mubasher: Saudi energy minister Khalid Al-Falih invited Russia to join the Organization of the Petroleum Exporting Countries (OPEC) as an observer. “We have invited Russia to join as an observer. We believe they are considering it,” Al-Falih was quoted by Reuters as saying during a news conference on Saturday. “I can assure that the entire membership 4

June 18, 2018 1:43 PM OPEC mulls over 300,000 bpd output hike – Reports

Mubasher: Members of the Organization of Petroleum Exporting Countries (OPEC) are in talks over stepping up production by 300,000 to 600,000 barrels per day (bpd) over the coming few months, reports showed on Monday. While Iran expressed, on Sunday, its opposition to any increase to the current supply, a number of officials were positive about a possible 5