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oil producers News
UAE energy minister says average oil price in 2018 was $70 a barrel
Sat, Jan 12, 2019
The Organization of the Petroleum Exporting Countries and other leading global oil producers led by Russia agreed in December to cut their combined oil output by 1.2 million barrels per day to balance the oil market starting from January.
Russia may back Aramco IPO, enhance OPEC ties
Tue, Jan 23, 2018
Sources told Reuters last year Chinese state oil companies were willing to become cornerstone investors in the Aramco IPO which could become the world`s biggest, valuing the firm at up to $2 trillion and raising more than $100 billion.
OPEC, non-OPEC committee recommends extending output cut by six months
Sun, Mar 26, 2017
OPEC and rival oil producers are meeting in Kuwait to review progress with their global pact to cut supplies.
OPEC chief confident in commitment, enthusiasm for output cut deal
Sat, Jan 14, 2017
"I remain confident... with the level of commitment and enthusiasm that I have seen among the 24 participating countries whom I am in regular contact with that this historic and landmark decision will be implemented fully," Mohammed Barkindo told Reuters in an interview in Abu Dhabi.
OPEC reduces crude production, prices surge
Thu, Dec 01, 2016
The Organization of the Petroleum Exporting Countries (OPEC) agreed on Wednesday to reduce their production of crude oil to 32.5 million barrels per day, which lead to a surge in oil pricing, media reports said.