×

International Organizations OPEC

  • LIBREVILLE, Jan 12- Royal Dutch Shell workers in Gabon began an "unlimited" strike on Thursday at all the company's operations in the Central African OPEC member country, the workers' union wrote in a letter to employees. Shell is in advanced talks to sell its Gabon assets, which one source estimated could be worth $700 million, leaving workers worried about layoffs...

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices rose on Thursday, supported by reports that key members of OPEC were starting to cut production as promised and by forecasts of strong demand growth in China. "All the focus is now on OPEC compliance, which seems to be moving ahead as planned," said Bjarne Schieldrop, chief commodities...

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices rose on Thursday, supported by reports that key members of OPEC were starting to cut production and by forecasts of strong demand growth in China. "Reports are emerging that OPEC signatories to the production cut agreement have already commenced reducing output," said Daniel Hynes,...

  • LIBREVILLE, Jan 12- Royal Dutch Shell workers in Gabon began on Thursday an "unlimited" strike at all the company's operations in the Central African OPEC member country, the workers' union wrote in a letter to employees. Shell is trying to sell its Gabon assets, which one source estimated could be worth $700 million, leaving workers worried about layoffs or being...

  • LIBREVILLE, Jan 12- Royal Dutch Shell workers in Gabon on Thursday began an "unlimited" strike on all operations in the Central African OPEC member, the oil workers union wrote in a letter to employees. There was no immediate response from Shell, and the cause of the strike was not immediately clear. Gabon is Africa's fourth largest oil producer with an output of...

  • LONDON, Jan 12- Oil prices rose on Thursday, supported by reports OPEC was starting to cut output and expectations of strong demand growth in China, but rising U.S. crude inventories reinforced concerns over plentiful global supplies. Several OPEC members appear to be implementing the deal. "Reports are emerging that OPEC signatories to the production cut...

  • LONDON, Jan 12- Oil prices rose on Thursday, supported by signs OPEC is starting to cut output and expectations of strong demand growth in China, but rising U.S. crude inventories reinforced concerns over plentiful global supplies. Several OPEC members appear to be implementing the deal. "Reports are emerging that OPEC signatories to the production cut...

  • *China's oil demand to hit record, fueled by soaring car sales. SINGAPORE, Jan 12- Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies. Reflecting China's growing fuel...

  • *China's oil demand to hit record, fueled by soaring car sales. SINGAPORE, Jan 12- Oil prices rose on Thursday, supported by expectations of strong demand growth in China and signs that OPEC members are starting to cut output, but markets were still held back by rising U.S. crude inventories and plentiful global supplies. Reflecting China's growing fuel...

  • *Steady exports to Asia may point to supply cuts in Europe, U.S. DUBAI/ SINGAPORE, Jan 12- Saudi Arabia has cut February term crude supplies to refiners in India and Southeast Asia, seeking to comply with an OPEC deal, but it has held most of its exports to the rest of Asia steady for a second month, industry sources said on Wednesday. "Saudi Arabia and Kuwait are focusing...

  • SINGAPORE, Jan 12- Oil prices dipped on Thursday on the back of rising U.S. crude inventories and plentiful supplies, despite emerging output cuts from OPEC and other producers. West Texas Intermediate crude oil futures were trading at $52.18 a barrel at 0141 GMT, down 7 cents from their last settlement. Prices for Brent crude futures, the international benchmark...

  • SINGAPORE, Jan 12- Oil prices were steady early on Thursday after U.S. crude and refined product stocks sent mixed messages to the market, with ongoing uncertainty over OPEC compliance with planned output reductions also in focus. West Texas Intermediate crude oil futures were trading at $52.24 a barrel at 0040 GMT, virtually unchanged from their last...

  • Oil

    Oil prices rose on Wednesday, shrugging off a bearish report on U.S. stockpiles and lifted by news of Saudi supply cuts to Asia.

  • NEW YORK, Jan 11- Oil prices rose for the first time in three days on Wednesday ahead of the U.S. weekly inventory data, following news of Saudi supply cuts to Asia. "We expect some bullish OPEC rhetoric to ramp up in an attempt to neutralize the bearish vibes that have emanated from the recent production increases indicated out of Libya, Iran, Iraq and Nigeria," Jim...

  • *India, Malaysia so far notified of cuts. LONDON, Jan 11- Oil prices rose for the first time in three days on Wednesday, following news of Saudi supply cuts to Asia, but persistent doubt over output reductions and signs of rising shipments from other producers kept gains in check. "Few envision that Brent crude at sub- $50 a barrel is a viable price amid OPEC production...

  • *India, Malaysia so far notified of cuts. LONDON, Jan 11- Oil prices rose for the first time in three days on Wednesday, following news of Saudi supply cuts to Asia, but persistent doubt over output reductions and signs of rising shipments from other producers kept gains in check. "Few envision that Brent crude at sub- $50 a barrel is a viable price amid OPEC production...

  • *Steady exports to Asia may point to supply cuts in Europe, U.S. DUBAI/ SINGAPORE, Jan 11- Saudi Arabia has cut February term crude supplies to refiners in India and Southeast Asia, seeking to comply with an OPEC deal, but it has held most of its exports to the rest of Asia steady for a second month, industry sources said on Wednesday. "Saudi Arabia and Kuwait are focusing...

  • *India, Malaysia have so far been notified of cuts. Traders said the gains were a result of mounting reports that Saudi Arabia, the world's top oil exporter, was cutting crude supplies slightly from contracted volumes in February, including to India and Malaysia. Seeking to plug any supply gap left by the OPEC production cuts, European and Chinese traders are...

  • *India, Malaysia have so far been notified of cuts. Traders said the gains were a result of mounting reports that Saudi Arabia, the world's top oil exporter, was cutting crude supplies slightly from contracted volumes in February, including to India and Malaysia. Seeking to plug any supply gap left by the OPEC production cuts, European and Chinese traders are...

  • *Exports from North Sea, Azerbaijan to Asia hit record in January. SINGAPORE, Jan 11- European and Chinese traders are shipping a record 22 million barrels of crude from the North Sea and Azerbaijan to Asia this month, seeking to plug any supply gap left by OPEC production cuts. Seeing an opportunity to sell North Sea oil profitably in arbitrage deals to Asia, seven...