Sentences with phrase «on oil production cuts»

At the moment, Russia and OPEC are signing agreements on oil production cuts on a yearly basis.

Not exact matches

CEO Rob Peabody said Husky cut back heavy oil production by about 5,000 barrels per day in the first quarter and substituted mainly blended bitumen bought from other Alberta oilsands companies to send to its U.S. refineries in Ohio and Wisconsin or to the refining complex on the U.S. Gulf Coast.

NEW YORK, April 24 - Oil prices were little changed on Tuesday after Brent hit its highest level since November 2014, supported by strong demand, OPEC - led production cuts, and the prospect of renewed U.S. sanctions on Iran.

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.

LONDON, April 24 - Oil rose above $ 75 a barrel on Tuesday to its highest since November 2014 before paring some gains, supported by OPEC - led production cuts, strong demand and the prospect of renewed U.S. sanctions on Iran.

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...

The time is ripe for anyone with new ideas on some facet of oil and gas exploration, drilling or production that could cut costs, says Yager.

LONDON, April 24 (Reuters)- Oil rose on Tuesday above $ 75 a barrel to its highest since November 2014, supported by OPEC - led production cuts, strong demand and the prospect of renewed U.S. sanctions on Iran.

KUWAIT, Jan 17 - Kuwait's oil minister Bakhit al - Rashidi said on Wednesday there is no plan or intention so far to exit from a production - cutting agreement among OPEC and non - OPEC oil producers.

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.

Oil is on course for its biggest weekly gain in six years, while commodities surge after Glencore announces production cuts.

Because energy producers cut back on drilling and production when oil is cheap (and less profitable for them), investors were concerned that they would also stop ordering as many of MRC's pipes, which are used to pump and transport crude.

CNBC's Jackie DeAngelis reports oil prices were down 4 percent today on news the Saudis would only consider a production cut if Iran did the same.

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.

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.

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.

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 IraOn 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 Iraon 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 Iraon 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.

HOUSTON ConocoPhillips, the world's largest independent oil and gas exploration and production company, posted a bigger - than - expected first - quarter profit on Thursday, helped by rising crude prices and cost cuts.

Impact on oil and gas production: compared to a carbon tax, Alberta's policy offers emitters less of an incentive to reduce production in order to cut GHGs, notes Leach: «assuming that the facility reduced production by 10 percent, and that emissions decreased proportionately (a simplifying assumption), the facility's emissions intensity would not change, so its carbon liability per barrel of oil produced would also remain constant.»

* 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.

Yes, OPEC and Russia are cutting back on their production, but U.S. producers more and more are playing a greater role in the world economy when it comes to oil production.

OPEC cut 10 mmbpd of production between 1980 and 1985 with no effect on falling oil prices.

Global oil prices, meanwhile, are quietly testing one - month highs ahead of next week's OPEC meeting in Vienna, where ministers from the cartel's members are widely expected to extend and agreement on production cuts into the first quarter of 2018.

Crude oil sold off on tariff fears but rallied back as Saudi Arabia is signaling that they are just crazy about production cuts and want an extension.

NEW YORK Oil prices rose on Thursday, boosted by OPEC production cuts and the potential for new U.S. sanctions against Iran, but gains were limited by growing U.S. crude inventories.

Related: Oil Prices Spike As OPEC Reaches Deal On Production Cut

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.

«If OPEC does not come up with a credible agreement to cut production on Wednesday oil prices will end the year below $ 40 a barrel and be chasing down $ 30 a barrel early next year,» David Hufton, CEO of PVM Group Ltd., told Bloomberg.

With most of the energy world focused on the upcoming OPEC meeting and whether oil ministers will agree on production cuts in order to help boost oil prices, it's a good time to review why the LNG industry also closely follows the price of 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.

While the continuing Russia - OPEC discussions are dominating headlines, with a focus on a possible extension of the oil production cut agreement into 2019, the market is far from stable.

Crude oil prices jumped a percent today on comments from Saudi Arabia's Energy Minister Khalid al - Falih, who said he expected the OPEC + production cut deal would be extended into next Continue Reading

Comments from global oil producers for additional signals on whether they plan to extend their current production - cut agreement into next year will also remain on the forefront.

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 erased early losses to rise on Thursday afternoon after Algeria's Energy Minister Noureddine Boutarfa said that most OPEC producers are supporting the Saudi - Russian proposal for an extension of the production cuts until March 2018.

HONG KONG (AP)-- Share prices sank in early trading Monday after an effort by major oil producing nations to agree on production cuts failed over the weekend.

Now, investors are eyeing an OPEC meeting on November 27 to see whether the organization could even cut prices further in an attempt to retain its global market share, particularly in the face of competition from the U.S. where oil production has increased thanks to the shale gas industry.

Singapore: Oil prices fell early on Thursday, pulled down by a rise in US crude inventories and record weekly US production, which is countering efforts by producer cartel OPEC to cut supplies and prop up prices.

Iran's current crude oil output level will not be reduced under the extension of the OPEC production cuts, Iranian Oil Minister Bijan Zanganeh was quoted as saying on Thursdoil output level will not be reduced under the extension of the OPEC production cuts, Iranian Oil Minister Bijan Zanganeh was quoted as saying on ThursdOil Minister Bijan Zanganeh was quoted as saying on Thursday.

Market participants continued to weigh the supply - side impact of production cuts by the Organization of the Petroleum Exporting Countries (OPEC) and other major oil producers in late 2016 and, on the other hand, the ability of the US shale oil industry to maintain output in the face of lower prices.

Last week, just a day after the output cut deal was extended as - is until March 2018, Novak said in an interview with CNBC that deeper cuts to OPEC's oil production were not out of the question, but their implementation would depend on how things unfold with the current agreement.

Saudi Arabia's energy minister, Khalid al - Falih, also re-invigorated the market on Monday saying he was optimistic that major oil producers will agree to cut production by November, and that $ 60 - a-barrel prices were not out of the question.

While the oil market has focused on news about production cuts from OPEC and non-OPEC countries, a new oil price risk has been developing.

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 rise on the back of burgeoning U.S. shale growth.

President - elect Nana Addo Dankwa Akufo - Addo further pledged to reduce the tax burden on the private sector through lower corporate tax and the removal of import duties and VAT from some items while relying on revenue measures such as improving tax compliance, improving the quality of public finance administration and higher oil and gas production to finance these tax cuts.

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