Iraq, Saudi Arabia sign 18 O&G MoUs

December 7, 2017 0

OPEC members and “brother countries” Iraq and Saudi Arabia have signed 18 memoranda of understanding (MoUs) covering crude oil, natural gas, refining and other projects, the Iraqi oil ministry said in a statement on Wednesday.

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OPEC oil output in November lowest since May

December 5, 2017 0

OPEC oil output fell in November by 300,000 barrels per day (BPD) to its lowest since May, a Reuters survey found, pressured by a drop in Angolan and Iraqi exports, strong compliance with a supply cut deal and involuntary declines.

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U.S. crude surges 1.7% after OPEC extends output cuts

December 4, 2017 0

Oil climbed on Friday, approaching its highest level in more than two years one day after OPEC and other major producers agreed to continue holding down output until the end of 2018 to try to reduce the global oil glut and boost prices.

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‘We’ll be on our toes to respond to U.S. shale’: Al-Falih

December 1, 2017 0

OPEC and its 10 allies acknowledge the potential variabilities in the market such as the U.S. shale growth, but will be “very agile” to react and respond depending on how events unfold, President of the OPEC conference and Saudi Arabia’s oil minister Khalid Al-Falih said Thursday.

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OPEC, non-OPEC producers likely to prolong output deal

November 30, 2017 0

The oil output deal 24 OPEC and non-OPEC countries signed a year ago is likely to be extended into the end of 2018 this week, as the allies gather on Thursday in Vienna to discuss details of an exit strategy or extension plan, Kallanish Energy reports.

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