Markets
Qatar says sees merits of extending oil supply cut into first quarter of 2018

Qatar’s energy minister said on Saturday he was optimistic that extending a global oil supply cut beyond June would improve market stability, and that there was merit in continuing the curbs...

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IEA says global oil market now close to balance

The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest nations, the...

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Optimism among Arab circles that oil market will improve by end 2017

Kuwait’s Oil Minister Essam al-Marzouq said 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.   He...

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Saudi Arabia ahead for $60/b oil prices in 2017

Saudi Arabia wants crude oil prices to rise to around $60 a barrel this year, five sources from OPEC countries and the oil industry said.   This is the level the OPEC heavyweight and its Gulf allies...

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Some BG Group offices to close

Royal Dutch Shell said Monday it was closing some of the offices in the United Kingdom for BG Group as both companies move forward under a united structure. British energy company BG Group became a...

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OPEC maintains crude production during the coming six months

The Organization of Petroleum Exporting Countries decided to maintain its output at 31.5 million barrels per day, group President Emmanuel Ibe Kachikwu said after the December meeting of OPEC...

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Consumers Oil Markets Stabilit between Productions and Consumers

Crude Oil now represented less than a quarter of the price oil products in many Countries. Therefore, taxes have more influence over the price of oil products. When oil taxes are raised, end...

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Markets

Even after the Saudi reduction, OPEC output still looks set to outstrip demand in the first half of 2013. OPEC is pumping about 30.2m bpd, while forecasts from the cartel’s economists for the...

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Growth Economic Rates

Growth Economic Rates According to OPEC Reports, the forecast for world economic growth in 2011 remains at 3.9% following off-setting revisions in the US , Japan and Euro-zone. Growth in the...

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Arab Revolutions and Oil Price Scenarios

Libya, which is located in North Africa and next door to revolutionary Tunisia, produces 1.6 million barrels a day (MBD). Libya’s oil production is about 2% of global oil production. Algeria, which...

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