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1-10 results from 276 for query «opec»

January 14, 2019 9:29 AM Crude oil prices to exceed $60 pb in 2019–minister

Mubasher: Crude oil prices are likely to average over $60 per barrel (pb) in 2019, Oman’s oil minister predicted. The deal between the Organization of Petroleum Exporting Countries (OPEC) and its allies including Russia and Oman can sustain prices at $60 pb, Mohammed bin Hamad al Rumhi told Bloomberg TV, predicting that crude oil will be traded between 277

January 12, 2019 2:42 PM Average oil price reaches $70 pb in 2018 – Minister

Abu Dhabi – Mubasher: The average oil price in 2018 was $70 per barrel (pb), the UAE energy minister Suhail al-Mazrouei said during an industry conference. This price level will boost global oil investment, the minister added. In December, members and non-members of the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut their production 288

January 9, 2019 11:35 AM OPEC oil output marks 6M low in December – Survey

Mubasher: Crude production from the 15-member Organization of Petroleum Exporting Countries (OPEC) dropped 630,000 barrels per day (bpd) in December 2018, a recent survey found. The producer group’s oil output hit a six-month low of 32.43 million bpd last December, compared with the previous month, an S&P Global Platts survey released Tuesday showed 118

January 9, 2019 8:37 AM Oil rises 1% on US-China trade talk development, OPEC cuts

Mubasher: Oil prices climbed on Wednesday, extending gains seen in the prior session on prospects that the US and China may soon resolve their trade conflict. By 8:09 am GMT, US Nymex crude futures climbed 1.06% to $50.31 per barrel (pb), while global benchmark Brent futures rose 1.02% to $59.32 pb. Trade talks in Beijing entered a third day on Wednesday 110

January 8, 2019 7:52 AM Oil steadies on US-Sino trade talk hopes, OPEC cuts

Mubasher: Oil prices were steady on Tuesday, driven by prospects that talks in Beijing between the US and Chinese officials could resolve a trade dispute between both countries. Moreover, output cuts announced by a group of producer led by the Organization of Petroleum Exporting Countries (OPEC) late last year tightened crude markets. By 7:34 am GMT, US Nymex 113

January 4, 2019 7:59 PM Oil ends Friday high on strong US jobs data

Mubasher: Oil futures recorded higher settlement on Friday, marking their first weekly price increase after losing for three consecutive weeks. February NYMEX WTI went up $0.87, or 1.97%, to close at $47.96 per barrel, rising 5.8% for the week. The positive performance of the oil can be explained in the light of a strong US jobs data and the agreed upon output 126

January 3, 2019 1:56 PM Libya halts oil shipments on adverse weather

Mubasher: Libya suspended oil shipments as adverse weather prompted the oil-rich nation to close all its export terminals, according to news report. The adverse weather conditions started to impact ports in Libya in the afternoon of 31 December 2018, a local shipping agent and an industry source told Thomson Reuters on Thursday. It is worth noting that crude 90

January 1, 2019 4:31 PM Oil to stabilise in 2019 – Minister

Abu Dhabi – Mubasher: The global oil market is expected to stabilise during the first quarter of 2019, as OPEC’s members and a group of independent producers agreed to cut output, the UAE’s energy minister Suhail Al Mazroui said. “We begin the new year with an optimistic view towards the achievement of a balance in the oil market during the first quarter 94

December 17, 2018 9:59 AM Global oil demand to grow 1.5m bpd in 2018 –KAMCO

Mubasher: Kuwaiti investment company, KAMCO, left its projections for global oil demand growth in this year unchanged from last months. The investment and financial services provider expects oil consumption for this year to grow by 1.5 million year-on-year barrels per day (bpd), totalling 98.79 million bpd. As far as the US, one of the nations of the Organisation 290

December 11, 2018 8:15 AM Oil edges up on Libyan oilfield shutdown; markets remain weak

Mubasher: Oil prices inched up earlier on Tuesday after Libya’s National Oil Company (NOC) declared force majeure on output from the El Sharara oilfield, controlled by a militia group. However, overall sentiment on crude prices remained bearish amid concerns about global equity markets and doubts that planned supply cuts led by the Organization of Petroleum 83