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2016-08-11 18:35:00

SAUDI - IRAN COMPETITION

SAUDI - IRAN COMPETITION

 

SAUDI IRAN OIL GAS DEPOSITS

 

WORLD OIL PRODUCTION

 

SAUDI BUDGET 2012 - 2016

 

BOE wrote, Saudi Arabia and Iran are showing no let up in their market share war, just days after OPEC announced an informal meting to discuss ways to stabilize falling prices.

The Organization of Petroleum Exporting Countries announced on Monday it will hold informal talks on the sidelines of a conference in the Algerian capital next month. Saudi Arabia, the world's largest crude exporter, told OPEC that it boosted oil output to a record 10.67 million barrels a day in July, two people with knowledge of the data said. Iran's output is up to 3.85 million barrels a day, Fars news agency reported, citing Oil Minister Bijan Namdar Zanganeh. That's the highest since 2008.

"It only gives one signal to the markets that the Saudis are not here to scale back, especially in the face of Iranians bringing more oil to the market," Abhishek Deshpande, an analyst at Natixis SA in London, said in a Bloomberg television interview. "I doubt there's going to be any concrete agreement despite there being talks."

Saudi Arabia typically pumps more oil in the summer to meet higher domestic energy demand from air conditioning. The kingdom is also engaged in a battle for market share with rival Iran and has cut prices to its customers in Asia, the biggest market for both exporters. Kuwait on Wednesday also cut its pricing to Asia, widening the discount to $2.65 a barrel for September from $1.70 a barrel in August.

OPEC's smaller producers, which have driven calls to cap the group's output, can only look on as prices tumbled more than 50 percent since mid 2014. The last effort to freeze output in April, which also included non-OPEC producer Russia, collapsed after Saudi Arabia demanded that Iran be part of the deal. Iran still opposes any limits on its production, with the country seeking to reclaim its pre-sanctions share of OPEC's total output before contributing to any production freeze, according to an OPEC delegate who asked not to be identified.

OPEC nations aren't pushing to revive the aborted April proposal, two delegates from the group said last week, and analysts don't expect any deal to be reached.

"These planned OPEC discussions may be viewed by some as a cheap possibility to try and stabilize the market," said Eugen Weinberg, head of commodities research at Commerzbank AG in Frankfurt. "It's more likely to be a way of further destroying the market's confidence in OPEC, as the organization cries wolf once again."

-----

Earlier:

SAUDI: 

SAUDI'S OIL PRODUCTION: 10.67 MBD 

DEMAND UP TO 1.4 MBD 

OPEC STILL HAVEN'T 

PRICE'S TALKS: NO NEED 

SAUDI'S PRICE DOWN

 

IRAN: 

IRANIAN OIL UP TO 2.5 MBPD 

IRAN - INDONESIA COOPERATION 

IRAN-PAKISTAN GAS PIPELINE 

IRAN & AZERBAIJAN COOPERATION 

NEW IRAN'S CONDITIONS

 

Tags: SAUDI, IRAN, OIL, PRODUCTION, PRICES, OPEC
SAUDI - IRAN COMPETITION September, 20, 09:05:00

OIL PRICE: ABOVE $55 YET

SAUDI - IRAN COMPETITION September, 20, 09:00:00

GAS PRICES UP TO $3.146

SAUDI - IRAN COMPETITION September, 20, 08:55:00

ЦЕНА URALS: $51,81591

SAUDI - IRAN COMPETITION September, 20, 08:50:00

U.S. OIL + 79 TBD, GAS + 788 MCFD

SAUDI - IRAN COMPETITION September, 20, 08:45:00

RENEWABLE'S FUTURE

SAUDI - IRAN COMPETITION September, 20, 08:40:00

TOTAL BUYS RENEWABLE

All Publications »

Chronicle:

SAUDI - IRAN COMPETITION
September, 20, 08:35:00

BP - AZERBAIJAN OIL DEAL

BP and its partners in Azerbaijan's giant ACG oil production complex agreed Thursday to extend the production sharing contract by 25 years to 2049 and to increase the stake of state-owned SOCAR, reducing the size of their own shares.

SAUDI - IRAN COMPETITION
September, 20, 08:30:00

U.S. DEFICIT UP TO $123.1 BLN

The U.S. current-account deficit increased to $123.1 billion (preliminary) in the second quarter of 2017 from $113.5 billion (revised) in the first quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit increased to 2.6 percent of current-dollar gross domestic product (GDP) from 2.4 percent in the first quarter.

SAUDI - IRAN COMPETITION
September, 18, 12:35:00

OIL PRICE: ABOVE $55

U.S. West Texas Intermediate (WTI) crude futures CLc1 were trading up 41 cents, or 0.8 percent, at $50.30 by 0852 GMT, near the three-month high of $50.50 it reached last Thursday. Brent crude futures LCOc1, the benchmark for oil prices outside the United States, were at $55.91 a barrel, up 29 cents, and also not far from the near five-month high of $55.99 touched on Thursday.

SAUDI - IRAN COMPETITION
September, 18, 12:30:00

RUSSIA - CHINA - VENEZUELA OIL

“The principal risk regarding Russian and Chinese activities in Venezuela in the near term is that they will exploit the unfolding crisis, including the effect of US sanctions, to deepen their control over Venezuela’s resources, and their [financial] leverage over the country as an anti-US political and military partner,” observed R. Evan Ellis, a senior associate in the Center for Strategic and International Studies’ Americas Program.

All Publications »
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