OPEC is urging oil suppliers outside the group to fulfill their commitments to cut output, and crude prices will rise once producers demonstrate better compliance with their agreement to clear a global glut, Kuwait’s oil minister said. The Organization of Petroleum Exporting Countries, which agreed to the cuts with 11 other oil-producing nations in December, is 92 percent compliant with its pledge to reduce output by 1.2 million barrels a day, Oil Minister Essam Al-Marzooq told reporters Monday in Kuwait City.
Category: OPEC (Organization of the Petroleum Exporting Countries)
Oil ticks up on weaker dollar, U.S. production outlook caps gains
Jan 18 Crude oil futures edged higher on Wednesday with a weaker dollar underpinning the market, although gains were limited by expectations that U.S. producers would boost output. U.S. West Texas Intermediate crude oil futures were trading up 3 cents at $52.51 per barrel at 0058 GMT.
Brent Oil Trades Above $56 as Saudis See Market Balanced by June
Brent oil traded above $56 a barrel after Saudi Arabia said output cuts from OPEC and other producers will balance the market by June. compliance level of reductions and the outlook for rising global demand should be enough to balance the market by the end of the first half of 2017, meaning the six-month deal probably won’t need to be extended, Saudi Arabia’s Energy Minister Khalid Al-Falih said.
Saudi Arabia’s dream of becoming dominant Muslim power in world has gone down in flames
LONDON: As recently as two years ago, Saudi Arabia ‘s half century-long effort to establish itself as the main power among Arab and Islamic states looked as if it was succeeding. A US state department paper sent by former secretary of state, Hillary Clinton, in 2014 and published by Wikileaks spoke of the Saudis and Qataris as rivals competing “to dominate the Sunni world”.
The US, Europe, Japan and China…where should you invest in 2017?
What the This is Money team would like to see in 2017: From stamp duty cuts, to customers losing misplaced loyalty and rates to rise What next for savings rates in 2017? After a terrible year for returns we get the experts’ view on whether savers are set for further misery Which is the best used family saloon for under A 10k? We put an Audi, BMW, Mercedes and VW to the test Round pound coins will cease to be legal tender in OCTOBER: New 12-sided A 1 will hit the streets in March – as will new Jane Austen A 2 M&S shoppers face price hikes of ‘up to 15% on basic goods’ despite a pledge to shield customers from the falling value of the pound Britain’s deserted shopping malls: Visits to stores plunge by HALF on New Year’s Day – as online sales triumph What would you do with a windfall worth A 100,000? Five experts reveal how they would invest a big lump sum How to soften the blow of rising … (more)
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