Oil prices edge up on reports of Saudi supply cuts, but details murky
An attendant prepares to refuel a car at a petrol station in Rome January 4, 2012. Oil edged up on Wednesday, lifted by reports of Saudi supply cuts to Asia, Continue Reading
Too early to decide on extending OPEC’s production cut deal: UAE minister
As OPEC producers begin cutting back their output, UAE energy minister Suhail al-Mazrouei said Wednesday producers were committed to making the necessary cuts, but it was premature to discuss whether Continue Reading
OPEC secretary-general expects oil inventories to fall by Q2
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen before a news conference at OPEC’s headquarters in Vienna, Austria December 10, 2016. OPEC expects to Continue Reading
OPEC Boss Says Producers Will Decide in May If More Oil Cuts Needed
Global oil inventories will start to fall by the second quarter of the year, and crude-producing countries will decide in May whether to extend their collective output cuts beyond the Continue Reading
OPEC members to meet in Vienna next week to evaluate output cut commitments: UAE minister
The progress made by a group of major producers from OPEC and outside the organization towards cutting oil output by a combined 1.8 million b/d will be assessed next week Continue Reading
Saudi energy minister: still expects Aramco IPO in 2018
Faisal Al Nasser Saudi Arabian Energy Minister Khalid al-Falih said on Thursday that he still expected national oil giant Saudi Aramco IPO-ARMO.SE to conduct a public offer of its shares Continue Reading
U.A.E. Says $50 Oil ‘Isn’t Going to Cut It’ for Producers
Crude oil at $50 a barrel is too low for most producing countries, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Prices have climbed almost 20 percent to Continue Reading
Saudi Arabia to cull billions of dollars of projects
Saudi Arabia is planning to cull billions of dollars of projects as part of its latest cost-cutting measures to narrow a gaping budget deficit and balance the books by 2020. Continue Reading
Oil, Trump, leave Mexico in dire economic straits
Mexico, the second largest economy in Latin America, is facing economic headwinds because of lower oil prices and U.S. trade policy, a study finds. The New Year brought new challenges Continue Reading
China’s CNPC forecasts record oil demand, warns on product glut
China’s crude oil demand will grow by 3.4 percent this year to a record of almost 12 million barrels per day (bpd), the country’s top state-owned oil producer forecast on Continue Reading