2019-03-18 13:20:00
OPEC+ WILL CUT
REUTERS- Saudi Arabia's energy minister said on Monday that he was confident that OPEC and its non-OPEC partners will reach full conformity with cuts, and even exceed it, in weeks to come.
Inventory levels and oil investments are the main factors guiding the group's action, Khalid al-Falih told reporters in Baku.
Oil industry estimates show that $11 trillion in investments will be needed over the coming two decades to meet demand growth, he said.
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Earlier:
2019, March, 13, 11:45:00
OIL PRICE: NEAR $67
Oil prices rose on Wednesday, pushed up by ongoing supply cuts from producer cartel OPEC and U.S. sanctions against Iran and Venezuela.
2019, March, 13, 11:30:00
OIL PRICES 2019-20: $63-$62
Brent crude oil spot prices averaged $64 per barrel (b) in February, up $5/b from January 2019 and about $1/b lower than at the same time last year.
2019, March, 11, 11:55:00
OIL PRICE: NEAR $66 YET
Oil prices edged up on Monday after Saudi oil minister Khalid al-Falih said an end to OPEC-led supply cuts was unlikely before June, while a report showed U.S. drilling activity fell for a third straight week.
