PLATTS - OPEC in March tightened the oil market considerably, slashing 570,000 b/d from its February output level, as Saudi Arabia continued to implement production cuts and Venezuela suffered from extensive power outages on top of US sanctions, an S&P Global Platts survey found.
Oil prices fell on Friday, with Brent slipping away from the $70 mark reached the previous day, pulled down by worries about progress in the U.S.-China trade talks.
Oil prices rose for a fourth day on Wednesday, pushing Brent towards $70 a barrel as support from OPEC-led supply cuts and U.S. sanctions overshadowed a report showing an unexpected rise in U.S. inventories.
Oil prices rose on Monday, adding to gains in the first quarter when the major benchmarks posted their biggest increases in nearly a decade, as concerns about supplies outweigh fears of a slowing global economy.
Oil prices rose about 1 percent on Friday, posting their biggest quarterly rise in a decade.
Oil prices rose on Friday on the back of ongoing OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, putting crude markets on track for their biggest quarterly rise since 2009.
Oil prices were mixed on Wednesday, with Brent extending the previous session’s rise, but gains were kept in check amid growing fears over the impact of a global economic slowdown on demand.
Oil prices slipped on Monday, with concerns of a sharp economic slowdown outweighing supply disruptions from OPEC’s production cutbacks and from U.S. sanctions on Iran and Venezuela.
The JMMC reiterated the critical role that the “Declaration of Cooperation” has played in supporting oil market stability since December 2016 and took note of the expressed commitment of all participating countries to ensure that such stability continues on a sustainable basis, as overall conformity reached almost 90% for the month of February 2019, which is up from 83% in the month of January.
Oil hovered slightly below 2019 peaks on Friday, propped up by ongoing supply cuts led by producer club OPEC and by U.S. sanctions on Iran and Venezuela.
Saudi Arabia will supply its clients with significantly less oil than they requested in April, extending deeper-than-agreed oil production cuts into a second month, a Saudi official familiar with the policy said.
Oil prices edged up on Wednesday, supported by ongoing supply cuts led by producer club OPEC and U.S. sanctions against Iran and Venezuela,
Обсудить с компаниями эффективность сделки Минэнерго планирует во втором квартале этого года. И только затем у России появится взвешенное мнение о судьбе сделки, которое, в том числе, будет продиктовано ситуацией на мировом рынке, подчеркнул Александр Новак. По его словам, 100%-ого исполнения сделки Россия планирует достигнуть к концу марта - началу апреля этого года.
Oil prices were mixed on Monday, weighed by concerns that an economic downturn may dent fuel consumption, but supported by supply cuts led by producer group OPEC and U.S. sanctions against Iran and Venezuela.
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.