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There has been a marked reduction to the inventories

There has been a marked reduction to the inventories, but we’re not where we want to be in reaching the five-year average    

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The market could gain balance by the third quarter of this year

The market could gain balance by the third quarter of this year, as long as producers agreed to an OPEC cut-off agreement settled by end 2017.

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Many OPEC countries have some of the world’s lowest production costs, which is a benefit in a low price environment.

Many OPEC countries have some of the world’s lowest production costs, which is a benefit in a low price environment.

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Christine Lagarde Managing Director of IMF

Christine Lagarde Managing Director of IMF: IMF calls Arabian Gulf countries to impose taxes to cover oil prices deterioration

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Russian Energy Minister Alexander Novak

Russian Energy Minister Alexander Novak: “We are ready to maintain the level of oil production of January 2016 and not exceed it, so as to stop deterioration in oil prices”

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Samsung Engineering wins Badra GSP contract in Iraq

“We are thrilled to be a part of ambitious oil project of Iraqi government,” said Steve Fludder, Senior Executive Vice President of Marketing at Samsung Engineering. “With our expertise in GSP...

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Dana Gas receives outstanding $48 million from Iraq

“We are pleased to receive this payment, and are working with the Kurdistan Regional Government to further address the outstanding receivables,” said Rashid Al-Jarwan, acting CEO of Dana Gas.

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