Sentences with phrase «cutting oil supplies»

OPEC and its allies look set to keep their deal on cutting oil supplies for the rest of 2018, five sources familiar with the issue said, although some producers are Continue Reading

OPEC and its allies look set to keep their deal on cutting oil supplies for the rest of 2018, five sources familiar with the issue said, although some producers are starting to worry that high prices may be giving too much stimulus to rival output.

Russian Energy Minister Alexander Novak is on board saying that Russia was committed to a deal on cutting oil supplies until the end of 2018, no matter what.

Compliance with a global deal to cut oil supply hit a new high in February and an inventory glut is shrinking fast, a joint OPEC and the non-OPEC committee said, Continue Reading

In 1941, the UK invaded Iraq fearing that the government, which strongly leaned towards Nazi ideology, would cut oil supplies.

Alberta's decision to cut oil supplies could raise the cost to fill up a 60 - litre - tank car in Vancouver to as much as $ 120

Not exact matches

The higher the oil price the Saudis (or OPEC) target and possibly reach, the more areas in the U.S. would be profitable to drill and add to the global oil supply, potentially wiping out the effect of the cuts and depressing oil prices again.

April 30 - Strong compliance with OPEC - led production cuts, robust demand and supply disruptions in the Middle East are likely to lift oil's average price this year to above $ 67 a barrel, a Reuters poll showed on Monday.

SINGAPORE, May 3 - Oil dipped on Thursday, weighed down by swelling U.S. crude inventories and record weekly U.S. production that undermined efforts by OPEC to cut supplies, although potential new U.S. sanctions against Iran kept markets on the...

A number of funds bet heavily on an oil rally early in the year, boosting long futures positions to a record in late February, before oil went into a prolonged slump as global supply remained elevated despite cuts from OPEC.

Saudi Arabia hopes OPEC and its allies will be able to relax production curbs next year and create a permanent framework to stabilize oil markets after the current supply cut deal ends this year, its oil minister said on Saturday.

LONDON, May 3 - Oil prices edged higher on Thursday despite swelling U.S. crude inventories and record weekly U.S. production, as focus shifted back to OPEC supply cuts and the potential of new U.S. sanctions against Iran.

That could cut off a major supply of oil while potentially handing the region's balance of power to Iran, which could end up in control of the routes used by 40 % of the world's seaborne oil.

Oil prices are near their highest since late 2014 thanks to strong demand and supply cuts by the Organization of the Petroleum Exporting Countries and other...

Oil prices rose on Friday after the Saudi energy minister said OPEC would need to keep coordinating supply cuts with non-member countries including Russia into 2019.

The Saudi - led Organization of Petroleum Exporting Countries (OPEC) will meet Thursday to work out a plan to cut global oil supplies and boost prices, but OPEC member Iran has an incentive and the power to screw the whole plan up.

The fossil fuel industries are making moves in Europe, with oil suppliers cutting supply to drive up prices again.

The main price driver has been an OPEC - led supply cut from major oil - producing group OPEC, which started to withhold output in January last year.

CNBC's Jackie DeAngelis reports on the rebound in oil prices as crude inches higher on signs of extended supply cuts.

CNBC's Jackie DeAngelis reports on the turnaround in oil prices as crude flirts with $ 31 a barrel and OPEC calls for supply cuts.

Oil prices are near their highest since late 2014 thanks to strong demand and supply cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other producers including Russia.

LONDON, May 3 - Oil prices slid lower on Thursday as swelling U.S. crude inventories and record weekly U.S. production offset concerns over OPEC supply cuts and the potential for new U.S. sanctions against Iran.

Notley strongly backs the pipeline and has threatened to cut off oil supplies to British Columbia.

Ervin said cutting off light oil supplies through Trans Mountain would hurt Alberta - based Parkland Fuels Corp., which bought the 55,000 - barrel - per - day Burnaby refinery last year and has enjoyed good margins thanks to its access to low - cost Alberta feedstock.

LONDON, May 3 (Reuters)- Oil prices slipped on Thursday as swelling U.S. crude inventories and record weekly U.S. production clashed with OPEC supply cuts and the potential for new U.S. sanctions against Iran.

SINGAPORE, May 3 (Reuters)- Oil prices fell early on Thursday, pulled down by a rise in U.S. crude inventories and record weekly U.S. production, which is countering efforts by producer cartel OPEC to cut supplies and prop up prices.

SINGAPORE, May 3 - Oil prices dipped on Thursday, weighed down by swelling U.S. crude inventories and record weekly U.S. production that is countering efforts by producer group OPEC to cut supplies and prop up prices.

Iran is looking to increase production even more by the end of the year, so any supply cut will have to be significant to really impact oil price.

LONDON, May 3 - Oil prices slipped on Thursday as swelling U.S. crude inventories and record weekly U.S. production clashed with OPEC supply cuts and the potential for new U.S. sanctions against Iran.

The initial target of the supply - cutting deal was to reduce industrialized nations» oil inventories back to their five - year average.

On Monday, WTI closed at US$ 52.22 a barrel, up by 3 percent, while Brent crude settled at US$ 59.02 — its highest since July 2015 — on the back of growing optimism that the OPEC production cut deal is finally having a palpable effect on global supplies of crude oil, and the equally growing worry that the Middle East could be in for more tensions — this time between the Kurdish nation and the countries it inhabits, following an independence referendum in the Kurdistan autonomous region in Iraq.

Oil prices rose after an Organization of Petroleum Exporting Countries (OPEC) deal in November sparked optimism that production cuts would help bring supply and demand into balance.

* OIL: Oil prices dipped on Thursday, weighed down by swelling U.S. crude inventories and record weekly U.S. production that is countering efforts by producer group OPEC to cut supplies and prop up prices.

The initial enthusiasm over OPEC's production cut deal died out rather unceremoniously, and oil prices only enjoyed a brief rally, hammered down continually by rising U.S. supply and slower - than - expected drawdowns on inventory.

OPEC oil output fell in March to an 11 - month low due to declining Angolan exports, Libyan outages and a further slide in Venezuelan output, a Reuters survey found, sending compliance with a supply - cutting deal to another record.

There were two principal drivers behind oil prices» performance: the growing optimism that the OPEC production cut deal is finally having a palpable effect on global supplies of crude oil, and the equally growing worry that the Middle East could be in for more tensions — this time between the Kurdish nation and the countries it inhabits, following an independence referendum in the Kurdistan autonomous region in Iraq.

Oil prices dipped on Thursday, weighed down by swelling U.S. crude inventories and record weekly U.S. production that is countering efforts by producer group OPEC to cut supplies and prop up prices.

The 104 - page OPEC report finds that there will be greater demand for the group's oil in 2016, with customers consuming an average of 31.65 million barrels a day throughout the year because the market will be «supply - driven» as competitors, beset by low prices, continue to cut back severely on capital expenditures ranging from exploration to new drilling.

Citi has also warned that oil supply would be tighter next year, as some OPEC members are already pumping at capacity, and can't boost their oil output as much as the oil market thinks they might after the end of the OPEC cuts.

Oil prices, for instance, neared a 27 - month high last week on improving demand and expected supply cuts.

The looming supply growth is mostly due to two factors: the scheduled end of OPEC / non-OPEC production cuts in March and US shale production, including NGLs, «growing like crazy,» said New York - based Mike Wittner, managing director and global head of oil research at Societe Generale.

A number of oil exporting countries have suggested a six - month extension to the oil supply cut deal agreed by OPEC countries and non-OPEC crude producers, Iraqi oil minister Jabar al - Luaibi Continue Reading

All OPEC and non-OPEC oil producers including Russia are committed to supply cuts until the end of the year, UAE Energy Minister Suhail Mohamed al - Mazrouei said on Monday.

A majority of the OPEC and independent oil producers participating in a current deal to cut supply like the idea of a long - term producers» alliance, the energy minister of the Continue Reading

Among commodities, oil prices moved higher as fears about rising US shale production abated somewhat, and market participants began giving more weight to the effectiveness of supply cuts by members of the Organization of the Petroleum Exporting Countries and several other large oil - producing countries.

Oman's oil minister Mohammed bin Hamad al - Rumhi called on all OPEC and non-OPEC producers who took part in the global supply cut pact to continue their cooperation to maintain suitable Continue Reading

OPEC said Thursday its crude oil output fell last month amid compliance with the oil cartel's agreement to cut production, even as the world's total oil supply continued to Continue Reading

OPEC on Wednesday raised its forecast for non-member oil supply this year to almost double the growth predicted four months ago as higher prices spur U.S. shale drilling, offsetting OPEC - led output cuts and a collapse Continue Reading

The global oil stocks surplus is close to evaporating, OPEC said on Thursday, citing healthy energy demand and its own supply cuts while revising up its forecast for production from Continue Reading

Oil prices, meanwhile, have pulled back a little today, as investors take profits after several days of a supply - cut related run up.