Sentences with phrase «said oil cuts»

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.

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.

The Bank of Canada said nothing in public about the possible merits of deficit spending as it twice cut its benchmark interest rate last year to offset the collapse of oil prices.

In response to a question about whether a rate cut amounted to pouring gasoline on the overheated housing market, Poloz said «We admit that these conditions are likely to cause financial imbalances,» in some cases, but that the Bank's primary goal is to ameliorate the «financial shock» to the economy caused by the drop in oil prices.

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.

Neither cut was a particular surprise: Buffett had previously said he erred in buying Conoco at a peak price for oil (though now, of course, the commodity's rising price is putting a different cast on the investment) and he had publicly protested Kraft's 2010 purchase of Cadbury, which he thought not in the interests of Kraft's shareholders.

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.

China's Sinopec plans to cut Saudi crude oil imports loading in May by 40 percent, an official from the company's trading arm Unipec said.

The Organization of the Petroleum Exporting Countries also said oil inventories across the most industrialized countries rose in January for the first time in eight months, a sign the impact of its output cuts may be waning.

«Trade wars, a recession, any notion of any weakness in global economies are going to cut into,» oil prices, Kloza said.

The banks say global oil demand and OPEC - led production cuts have tightened an oversupplied market more quickly than they anticipated.

The banks says the long - oversupplied oil market is tightening up more quickly than expected as global economic growth fuels demand and output cuts by OPEC, Russia and several other producers eat into the world's crude stockpiles.

CNBC's Jackie DeAngelis reports on falling oil prices after Iran says it would counter price cuts made by Saudi Arabia.

China's Sinopec, Asia's largest refiner, plans to cut Saudi crude oil imports loading in May by 40 percent after national oil company Saudi Aramco set higher - than - expected prices, an official from the company's trading arm Unipec said.

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.

O'Loughlin said that relatively high oil prices, supported by healthy demand and production cuts by the Organization of the Petroleum Exporting Countries (OPEC) to tighten markets, «are encouraging U.S. shale producers to continue ramping up production.»

«I believe we are in for much greater volatility in oil prices for the foreseeable future and that's why you've seen Cenovus preserve cash by moderating our growth and reducing our workforce,» CEO Brian Ferguson said in announcing the job cuts.

HOUSTON, April 26 U.S. oil producer ConocoPhillips said on Thursday its first - quarter profit jumped 52 percent due to rising crude prices and cost cuts.

Benchmark crude futures contracts have in the past week wiped out the gains made since the end of September when the Organization of the Petroleum Exporting Countries said it would agree to cut oil production to shore up persistently low prices.

Related: No OPEC Cut Needed, Says Saudi Oil Minister

Others have taken the other side of the bet, and overnight Bjarne Schieldrop, chief commodities analyst at SEB, says that he thinks there is a «very low chance» of an OPEC oil - output cut tomorrow.

HOUSTON, April 26 (Reuters)- U.S. oil producer ConocoPhillips said on Thursday its first - quarter profit jumped 52 percent due to rising crude prices and cost cuts.

Proposed Harrisburg School District budget could cut kindergarten to half days Venezuela's oil decline reaches new depths US Treasury says Q1 borrowing set record of $ 488 billion Canadians to begin feeling pinch from increasing mountains of debt,... [Read More]

Political attempts to strong - arm B.C. — such as Alberta cutting back oil exports to the province or Ottawa withholding infrastructure dollars — appear to be less effective in getting those currently opposed to the project to say «yes,» according to Angus Reid.

The company also said oil sands operations production has benefited from reliable operations at its Firebag and MacKay River plants, but base plant operations dealt with a significant, weather - related outage in January that will cut first quarter output to roughly 400,000 bbls / d.

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.

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.

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.

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.

David Dudley, International Director and Head of Abu Dhabi Office at JLL MENA, says, «Ongoing cost cutting and downsizing in the oil and government sectors have continued to reduce demand across all sectors of Abu Dhabi's real estate market.

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

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

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

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

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.

O'Loughlin said that relatively high oil prices, supported by healthy demand and production cuts by the Organization of the Petroleum Exporting Countries (OPEC) to tighten markets, «are encouraging US shale producers to continue ramping up production.»

Speaking on Wednesday, the official said: «Given the remarks voiced by oil and energy minister of OPEC member states, it is apparent that there is an agreement between members of the organization to extend the body's output cut plan.»

«Iran will not reduce its output,» he said responding to a question about whether Iran would cut its crude oil output.

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.

Speaking to Iran's oil ministry's news service Shana the day before the OPEC meeting, Zanganeh said, when asked if Iran would cut its crude oil production:

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.

Arguing that OPEC «has not failed at all» in its attempt to drive oil prices up, Oreshkin said that the price of oil is now much higher than it was this time last year, before the cartel and 11 non-OPEC producers led by Russia struck the initial output cut deal.

The official's comments helped to boost oil prices today, especially as they came on the heels of comments from Iran's Oil Minister, Bijan Zanganeh, who said Monday that compliance with the cuts among OPEC members was improving and the market was returning to balanoil prices today, especially as they came on the heels of comments from Iran's Oil Minister, Bijan Zanganeh, who said Monday that compliance with the cuts among OPEC members was improving and the market was returning to balanOil Minister, Bijan Zanganeh, who said Monday that compliance with the cuts among OPEC members was improving and the market was returning to balance.

As industry job cuts top 200,000 worldwide, Exxon has kept its 75,300 - strong workforce intact with none of the sweeping layoffs seen at other oil companies, including its biggest U.S. rival Chevron Corp. «Exxon is just stronger financially than anyone else out there,» Brian Youngberg, an analyst at Edward Jones & Co. in St. Louis, said in an interview.

The company, Canada's No. 2 pipeline operator, released a letter sent to U.S. Secretary of State John Kerry and other department officials saying that increased carbon levies for Alberta oil sands producers and new Canadian targets for greenhouse - gas emission cuts should serve to help assuage U.S. concerns that approving the C$ 8 billion ($ 6.41 billion) project would increase climate change.

Chevron Corp. said it's cutting about 10 percent of its workforce and scaled back its long - term production target amid the worst oil - market slump since the 1980s even as the company posted third - quarter profit that surpassed analysts» expectations.

Kuwait is committed to cutting output by 131,000 b / d in January in line with its commitments under OPEC's output reduction deal, oil minister Essam al - Marzouq said Thursday.

Kuwait's oil minister said on Thursday it was too early to talk about a strategy to exit the current OPEC and non-OPEC supply cutting pact.