Saudi Arabia: Deal To Gradually Ease Cuts Is ‘Inevitable’
It is “inevitable” that OPEC and partners will agree next week to gradually roll back some of the production cuts that have been in place since January 2017, Saudi Arabia’s Continue Reading
Iran Warns North Korea About The United States
Now that the much-anticipated meeting between President Donald Trump and North Korean leader Kim Jong Un in Singapore fades from the news cycle, giving way to a myriad of analysis Continue Reading
Headwinds for ICE Brent as Saudis, Russia eye output boost
Crude and product futures held steady throughout much of the US trading day Thursday despite fresh indications that Saudi Arabia and Russia would agree to increase output. Saudi energy minister Continue Reading
Russia And Saudi Arabia Will Save The Day If OPEC Deal Falls Apart
Even if the current OPEC/NOPEC oil production cut deal goes to pieces, Saudi Arabia and Russia will be willing to go it alone, the two largest oil producers in the Continue Reading
Indian oil minister says current oil price not sustainable, calls for ‘responsible pricing’
Saying that current oil prices were not supported by market fundamentals, Indian oil minister Dharmendra Pradhan on Thursday called for “responsible pricing, one that balances the interests of both the Continue Reading
May production rises to greet high prices
Iraq’s oil production in May rose to its highest level so far this year, as the country seeks to take advantage of strong oil prices. In combination, the federal government Continue Reading
Armed clashes costing Libya 240K barrels of oil per day
Libyan oil production is down by about a quarter-million barrels per day because of clashes at two export terminals, the national oil company said Thursday. “The National Oil Corp. has Continue Reading
Determinations expected soon on Egyptian oil
Results from a drilling operation announced Thursday in the Gulf of Suez could dictate the next steps for oil exploitation, regionally-focused SDX Energy said. SDX announced the start of an Continue Reading
Libya’s Es Sider Terminal Shuts Down After Militant Clashes
The Es Sider oil export terminal in Libya was shut down and loadings at another one, Ras Lanuf, were suspended today after clashes between the Libyan national Army and the Continue Reading
Attack shuts major Libyan oil ports, slashing production
The major Libyan oil ports of Ras Lanuf and Es Sider were closed and evacuated on Thursday after armed brigades opposed to the powerful eastern commander Khalifa Haftar stormed them, Continue Reading