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1-10 results from 247 for query «opec»

October 17, 2018 1:12 PM OPEC warns against mentioning oil prices

Mubasher: The Organization of the Petroleum Exporting Countries (OPEC) has called upon members not to mention oil prices when discussing production policy. Officials are advised not to mention prices in order to avoid the risk of a legal action in the United States for manipulating the market, Reuters reported on Wednesday. An old proposed law known

October 17, 2018 8:12 AM Oil edges up on surprise drop in US crude inventories

Mubasher: Oil prices rose on Wednesday, gaining ground for the fourth session, due to a surprise drawdown in US crude stockpiles and supply fears triggered by geopolitical tensions on the disappearance of a Saudi journalist. By 7:56 am GMT, global benchmark Brent futures rose 0.50% to $81.82 per barrel (pb), while US Nymex crude futures went up 0.43% to $72.23 pb. US crude

September 28, 2018 7:55 AM Oil rises amid uncertainty over aftermath from Iran sanctions

Mubasher: Oil prices edged up earlier on Friday, as traders were trying to measure the future impact on market supply after US sanctions against Iran’s hydrocarbon exports take effect. At 7:38 am GMT, Brent crude went up 0.17% to $81.86 per barrel (pb) from its last close, as US Nymex crude rose 0.22% to $72.28 pb. The international benchmark front-month 2

September 27, 2018 4:17 PM Total sees no ‘good in oil price reaching $100 pb

Mubasher: French energy major Total said that oil prices on track to reach $100 per barrel (pb), but it did not view such surge as favourable. Seeing key drivers, such as impending sanctions against Iran and shortfall in Venezuelan supplies, Total’s CEO Patrick Pouyanne believed that oil prices could hit triple digit highs seen for the first time seen since 1

September 27, 2018 11:52 AM US rules out crude reserve release as Iran sanctions loom

Mubasher: The US administration would not consider a release from the country’s emergency crude inventories in a bid to compensate the expected shortfall in market supply that would result from sanctions against Iran. Instead, Washington would count on large global producers to strike a balance in the market, US Energy Secretary Rick Perry said on Wednesday 3

September 26, 2018 4:14 PM Trump should cease meddling in Middle East–Iran oil minister

Mubasher: Iran’s Oil Minister Bijan Zanganeh said on Wednesday that the Trump administration should stop interfering in the Middle East, if it wants to end oil price hikes. US President Donald Trump is pushing “seriously” to shut down Iran’s crude exports, while he ensures oil prices do not go up, “but these two cannot happen together,” the Iranian Students’ 3

September 24, 2018 8:32 AM Oil soars on tight market Monday; further hikes expected

Mubasher: Oil prices jumped earlier on Monday as US sanctions restricted Iranian crude shipments, tightening global supply, while some traders projected prices would hike up to $100 per barrel (pb). Around 7:30 am GMT, US Nymex crude climbed $1.18 to $71.96 pb from their last close, while global Brent crude tapped its highest since last May at $80.47 pb, $1.63 higher 4

September 20, 2018 9:48 AM Iran to veto any OPEC decision threats its interests–Minister

Mubasher: Iran said that it would oppose any decision by the Organization of Petroleum Exporting Countries (OPEC) which could harm the country, as some producers are trying to create alternative producer forum that supports US policies against Tehran. As the output cut deal inked in 2016 between OPEC and non-OPEC allies is now in tatters, OPEC’s Joint 5

September 20, 2018 8:03 AM Lower US crude inventory, supply concerns push up oil prices

Mubasher: Oil prices sustained its gains for the third consecutive day earlier on Thursday as US crude stockpiles saw another decline, amid strong fuel demand. In addition, indicators that the Organization of Petroleum Exporting Countries (OPEC) would not ramp up output to tackle falling supplies from Iran helped push prices higher. At 6:11 am GMT, US Nymex 6

September 17, 2018 7:57 AM Oil prices drop Monday as trade war weighs demand

Mubasher: Oil prices fell earlier on Monday, pressured by supply concerns on fresh tariffs imposed by the US against Chinese imports, coupled with sanctions against Iran, the Organization of Petroleum Exporting Countries’ (OPEC) third-largest producer. At 6:35 am GMT, Brent crude oil futures decreased by 0.2% to $77.93 per barrel (pb), while US West Texas 2