Monday, 24 June 2019

Tag Archives: Opec

Iran has no plans to leave OPEC despite tensions

GENEVA: Iran has no  plans to leave the Organization of the Petroleum Exporting Countries despite being treated like an enemy by some fellow members, Oil Minister Bijan Zanganeh said in an interview published. “Iran has no plans to leave OPEC…and regrets that some members of OPEC have turned this organization ...

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OPEC chief visits Iran as US sanctions waivers expire

TEHRAN: OPEC Secretary-General Mohammed Barkindo visited Tehran for an oil and gas expo just hours before sanctions waivers the US granted to Iran’s biggest oil customers were set to expire. The OPEC chief visit came as China, Turkey and Iraq said that they cannot abide by the unilateral US sanctions and ...

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Oil slips to $71, hit by talk of higher OPEC+ production

LONDON: Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations of higher US inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. Analysts on average expect US crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The ...

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Oil slips on weak demand growth outlook

HONG KONG: Oil prices fell as markets eyed only modest prospects for growth in fuel demand, although OPEC-led efforts to cut output still offered some support. US West Texas Intermediate (WTI) crude oil futures were at $56.30 per barrel at 0210 GMT, down 29 cents, or 0.5 percent, from their ...

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Opec output posts biggest drop since 2017

LONDON: Opec oil supply fell in December by the largest amount in almost two years, a Reuters survey found, as top exporter Saudi Arabia made an early start to a supply-limiting accord while Iran and Libya posted involuntary declines. The 15-member Organisation of the Petroleum Exporting Countries (Opec) pumped 32.68 ...

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Qatar to quit OPEC in 2019

DOHA: Qatar is to leave OPEC next month in order for the Gulf state to focus on gas production, Energy Minister Saad al-Kaabi announced on Monday. “Qatar has decided to withdraw its membership from OPEC effective January 2019,” Kaabi said at a Doha press conference. He added that Qatar would ...

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Oil prices collapse as glut fear triggers heavy selling

LONDON: Oil prices slumped to lows not seen since last year as concerns over high crude supplies triggered massive selling, dealers said. The WTI futures contract, the New York commodities markets’ benchmark, and its European counterpart Brent Crude both fell more than six per cent on the day. High global ...

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Iran says Saudi plan to boost oil output ridicules OPEC

LONDON: Iran criticised Saudi Arabia´s plan to raise oil output and pressure from the United States on Riyadh do so, saying this was in breach of OPEC´s decision last week and belittled the producer group. Sorry, the video player failed to load.(Error Code: 101104) OPEC and a group of non-OPEC countries agreed ...

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