All publications by tag «OPEC»
2016, June, 14, 18:20:00
CHINA'S OIL PRODUCTION DOWN
PetroChina Co., the nation’s biggest producer, said in March it expects oil and gas output to fall the first time in 17 years as it shuts fields that have “no hope” of turning a profit, while Cnooc Ltd. sees output slipping as much as 5.2 percent this year.
2016, June, 6, 19:00:00
PRICE HAVE TO BE ABOVE $50
Prices need to be at level above $50 a barrel for more crude supplies to come back to the market following a slump over the past two years, Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources, told reporters in his suite in a Vienna hotel.
2016, June, 6, 18:55:00
OPEC WANT TO REGAIN
"The fact that OPEC agreed on its new management shows they want to regain their coordinating role. The cartel will perform market management again," Alekperov, chief executive of Russian energy firm Lukoil, said after meeting Falih and Iranian Oil Minister Bijan Zanganeh separately in Vienna.
2016, June, 3, 19:35:00
OPEC HAS NO MEANING - 2
“We will be very gentle in our approach, so we don’t shock the market in any way,” Saudi Arabia’s new oil minister, Khalid Al-Falih, said before he sat down with his counterparts in Vienna on Thursday. “We are satisfied with the price movement over the last few months and think it will continue to gently edge up without much intervention, assuming that more or less OPEC production stays where it is.”
2016, June, 3, 19:30:00
OPEC HAS NO MEANING
“We will be very gentle in our approach, so we don’t shock the market in any way,” Saudi Arabia’s new oil minister, Khalid Al-Falih, said before he sat down with his counterparts in Vienna on Thursday. “We are satisfied with the price movement over the last few months and think it will continue to gently edge up without much intervention, assuming that more or less OPEC production stays where it is.”
2016, May, 30, 18:25:00
SAUDI'S STRATEGY: TO KILL OPEC
Saudi Arabia has been fighting with fellow OPEC members since the oil rout started two years ago. For the first time next week, it can argue convincingly that its strategy of squeezing rival producers is succeeding.
2016, May, 27, 20:10:00
OPEC'S STRATEGY: $70 - $80
Khelil expects prices to increase to $70 to $80 a barrel or more after oil majors abandoned or shelved projects. Still, that rebound risks reviving U.S. shale drillers, said the two-time president of OPEC.
2016, May, 16, 20:50:00
OPEC: OIL DEMAND UP
World oil demand in 2015 grew by around 1.54 mb/d, unchanged from last month’s report. Total oil consumption averaged 92.98 mb/d. In 2016, world oil demand is projected to rise by 1.20 mb/d to reach 94.18 mb/d, unchanged from last month’s projections, despite upward revisions to Other Asia, which were counterbalanced by downward revisions to Latin America and China.
2016, May, 10, 18:40:00
KILLING OPEC
Internal differences are killing OPEC and its ability to influence the markets has all but evaporated, top Russian oil executive Igor Sechin told Reuters in some of his harshest remarks ever about the oil cartel.
2016, April, 17, 19:00:00
OIL FREEZING
Some 18 OPEC and non-OPEC countries, including Russia, had been meant to meet on Sunday morning in the Qatari capital of Doha and rubber-stamp a deal - in the making since February - to freeze output at January levels until October 2016.