Saudis, Russia to diverge on speed of oil output cuts: Kemp
OPEC and non-OPEC members have pledged to cut their combined oil production by an average of just over 1.7 million barrels per day (bpd) in the first six months of Continue Reading
Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels – sources
Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is Continue Reading
Iraq begins reducing oil output in keeping with OPEC decision: minister
Iraq has begun implementing measures to reduce national oil output in keeping with an OPEC decision, the oil minister said on Thursday. “Iraq affirms its commitment to the OPEC decision Continue Reading
Saudi Aramco explores Feb oil supply cuts of 3-7 percent to meet OPEC target
Saudi Aramco has started talks with customers globally to discuss possible cuts of 3 percent to 7 percent in February crude loadings to comply with OPEC production cuts, four sources Continue Reading
Aramco Raises Oil Pricing to Asia and U.S. as OPEC Cuts Output
Saudi Arabia raised pricing for February oil sales to Asia and increased premiums for light grades to the U.S. as the world’s largest crude exporter prepares to reduce output to Continue Reading
Iraq next to state commitment to OPEC cuts
Iraq has started trimming crude oil production in a managed fashion in order to comply with an OPEC agreement, the oil minister said. “Iraq is dealing wisely” with its commitment Continue Reading
Lebanon To Restart Oil, Gas Licensing Round After Three-Year Delay
Lebanon intends to restart its first oil and gas licensing round after a three-year delay, the energy minister said on Thursday, hoping to kick-start the development of a hydrocarbon industry. Continue Reading
After record year, Iraq readies OPEC cuts
Iraq’s federal government exported nearly 10 percent more oil in 2016 than it did the year before, though the Oil Ministry is cutting production in the new year as part Continue Reading
Lebanon Set to Join East Mediterranean Race for Oil and Gas
Lebanon approved two measures allowing it to auction its first offshore oil and natural gas rights, ending three years of delays that kept the tiny country from joining a regional Continue Reading
Iraq begins reducing oil output in keeping with OPEC decision: minister
Iraq has begun implementing measures to reduce national oil output in keeping with an OPEC decision, the oil minister said on Thursday. “Iraq affirms its commitment to the OPEC decision Continue Reading