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Oil Output Cut News
Oil Output Cut
Oil prices rise on prospect that Saudi Arabia seeking output cut extension
Wed, Apr 12, 2017
Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.
Eurozone inflation jumps to 1.1% in December, highest since 2013
Wed, Jan 04, 2017
Inflation in the eurozone jumped to 1.1% in December, the highest level for more than three years, boosted by rising oil prices, official European Union (EU) figures showed on Wednesday.
Oil prices rise in anticipation of tighter 2017 market
Mon, Dec 19, 2016
Oil prices inched up on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices.
OPEC, non-OPEC agree first global oil pact since 2001
Sun, Dec 11, 2016
OPEC and non-OPEC producers on Saturday reached their first deal since 2001 to curtail oil output jointly and ease a global glut after more than two years of low prices that overstretched many budgets and spurred unrest in some countries.
Saudis order oil cuts to US, Europe before non-OPEC talks
Sat, Dec 10, 2016
Saudi Arabia has told its US and European customers it will reduce oil deliveries from January, as Russia said it was confident non-OPEC producers would fully join OPEC`s output limits on Saturday in the first such move since 2001.
OPEC to push for non-member oil cuts
Sat, Dec 10, 2016
OPEC will seek on Saturday to persuade other oil producers to lower production as part of a newly struck global pact to stem a crude glut and lift painfully low prices.
India's crude oil imports from Iran rise 336% in October
Wed, Nov 30, 2016
India's imports of crude oil from Iran have risen 336% in October this year as the producer continued to recoup market share lost under sanctions, Reuters reported on Wednesday citing a data released by the International Energy Agency (IEA).