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Gulf Independent - OPEC
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Oil soars 6% as Opec reaches deal to limit output in Nov ECONOMY

Oil soars 6% as Opec reaches deal to limit output in Nov

Oil prices jumped as much as 6% on Wednesday after Opec sources said the group has reached a deal to limit crude output at its policy meeting in November, a source for the producer group said.

4:45 AM November 25 2016
Oil output: Saudis, Iran at loggerheads ECONOMY

Oil output: Saudis, Iran at loggerheads

Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as the group and non-member Russia were still trying to bridge differences between the kingdom and Tehran.

4:45 AM November 25 2016
Iran says not ready for oil output freeze ECONOMY

Iran says not ready for oil output freeze

Iran is not ready to agree to an oil output freeze in Algiers, its Oil Minister Bijan Zanganeh said Tuesday on the eve of an informal OPEC meeting in Algeria's capital.

4:45 AM November 25 2016
Oil prices rebound after Algeria says all options open ECONOMY

Oil prices rebound after Algeria says all options open

Crude prices rebounded on Monday after Algeria's energy minister said the day before that all options were possible for an oil output cut or freeze at this week's informal meeting of OPEC producers.

4:45 AM November 25 2016
Saudis offer oil cut for OPEC deal if Iran freezes output ECONOMY

Saudis offer oil cut for OPEC deal if Iran freezes output

Saudi Arabia has offered to reduce oil production if rival Iran caps its own output this year, four sources familiar with the discussions told Reuters as Riyadh seeks an OPEC deal to curtail supply and boost prices.

4:45 AM November 25 2016
Global oil glut set to last at least until mid-2017: IEA ECONOMY

Global oil glut set to last at least until mid-2017: IEA

A global oil glut that has hurt producers but means cheaper pump prices for consumers looks set to go on at least six months longer than previously thought, the International Energy Agency said on Tuesday.

4:45 AM November 25 2016
Oil prices 'likely to average $60 a barrel in 2017' ECONOMY

Oil prices 'likely to average $60 a barrel in 2017'

Oil prices are likely to move up and average $60/barrel in 2017 from this year’s average of $43/b as reduced investment by international oil companies begins to bite, Samba Financial Group has said in a report.

4:45 AM November 25 2016
Putin says oil output freeze would be right decision ECONOMY

Putin says oil output freeze would be right decision

Russian President Vladimir Putin said an agreement between oil exporters to freeze output would be the right decision for the global market and a compromise should be found for Iran to achieve a deal.

4:45 AM November 25 2016
Saudi minister: Opec moving to common position ECONOMY

Saudi minister: Opec moving to common position

Saudi Arabia's minister of foreign affairs said on Thursday that it would be reasonable for the kingdom to go along with other producers in changes to oil production.

4:45 AM November 25 2016
Oil prices dip on stronger dollar, Iran output fear ECONOMY

Oil prices dip on stronger dollar, Iran output fear

Oil prices extended losses in Asia Wednesday on the back of a strong dollar while reported comments by Iran's oil minister that his country planned to boost output ramped up oversupply worries.

4:45 AM November 25 2016
Oil falls towards $49 on high output, strong dollar ECONOMY

Oil falls towards $49 on high output, strong dollar

Oil fell towards $49 a barrel on Monday, pressured by high output from Middle East OPEC members and as a stronger US dollar weighed on commodities.

4:45 AM November 25 2016
Oil prices fall as Saudi Arabia dampens prospects of output freeze ECONOMY

Oil prices fall as Saudi Arabia dampens prospects of output freeze

Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month, and as analysts pointed to an ongoing supply overhang that was weighing on markets.

4:45 AM November 25 2016