Europe Top News and Analysis Kuwait

  • LONDON, Feb 15- Brent crude oil climbed above $65 a barrel to its highest this year as OPEC- led supply cuts and this week's announcement of a higher than expected cut by Saudi Arabia encouraged investors. The Organization of the Petroleum Exporting Countries and allies led by Russia started voluntary production cuts last month, aiming to tighten the market.

  • *Brent tops $65 a barrel for the first time this year. LONDON, Feb 15- Brent crude oil briefly reached 2019 highs above $65 a barrel on Friday as OPEC- led supply cuts and this week's announcement of a higher than expected cut by Saudi Arabia encouraged investors. The international oil benchmark rose as high as $65.10, pushing past $65 for the first time this year.

  • *Brent tops $65 per barrel for first time this year. SINGAPORE, Feb 15- Brent crude oil prices slipped away from 2019 highs above $65 per barrel reached earlier on Friday, as economic concerns countered OPEC- led supply cuts and a partial shutdown of Saudi Arabia's biggest offshore oil field. Brent rose as far as $65.10, pushing past the $65 mark for the first time this...

  • *Brent tops $65 per barrel for first time this year. SINGAPORE, Feb 15- Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by OPEC- led supply cuts and a partial shutdown of Saudi Arabia's biggest offshore oil field. Brent rose as far as $65.10, pushing past the $65 mark for the first time this year, before falling back to $64.77 by 0623 GMT.

  • *Eyes on U.S.- China trade talks, meeting with Xi. TOKYO, Feb 15- Asian stocks fell on Friday, retreating from four-month highs after data out of China raised concerns over deflationary pressures building in the world's second biggest economy. That offsetting some cautious optimism over trade talks in Beijing between the United States and China.

  • *Brent tops $65/ barrel for first time this year. SINGAPORE, Feb 15- Brent crude oil prices hit 2019 highs above $65 per barrel on Friday, spurred by OPEC- led supply cuts and a partial shutdown of Saudi Arabia's biggest offshore oil field. Brent rose as high as $65.10, pushing past the $65 mark for the first time this year, before edging back to $64.89 a barrel by 0531 GMT.

  • TOKYO, Feb 15- Asian stocks fell on Friday after weak U.S. retail sales figures raised fresh doubts about the strength of the world's largest economy, offsetting optimism towards trade talks between the United States and China. There has been no decision to extend a March 1 deadline for a deal, White House economic adviser Larry Kudlow said on Thursday.

  • SINGAPORE, Feb 15- Oil prices rallied on Friday, with Brent crude futures hitting fresh 2019 highs amid U.S. sanctions against Venezuela and Iran and supply cuts led by the Organization of the Petroleum Exporting Countries. OPEC and some non-affiliated suppliers including Russia are withholding supply in order to tighten the market and prop up prices.

  • "Between supply issues out of Venezuela and Saudi Arabia and implications for demand swirling around the market as a result of the US-China trade war... the crude oil and distillate markets have been subjected to a tug-of-war that has kept prices severely range-bound," said David Thompson, executive vice-president at Powerhouse, an energy-specialized...

  • LAUNCESTON, Australia, Feb 13- Asia's oil refiners are increasingly finding themselves trapped between the rock of OPEC's production cuts and the hard place of U.S. President Donald Trump's sanctions against Iran and Venezuela. Add to this the sanctions imposed by the United States on Venezuela, which produces heavy sour crude, and on Iran, another producer of...

  • LAUNCESTON, Australia, Feb 13- Asia's oil refiners are increasingly finding themselves trapped between the rock of OPEC's production cuts and the hard place of U.S. President Donald Trump's sanctions against Iran and Venezuela. Add to this the sanctions imposed by the United States on Venezuela, which produces heavy sour crude, and on Iran, another producer of...

  • An employee of the Kuwait Oil Company

    Saudi Arabia throttled back production during OPEC's first month of output cuts aimed at draining oversupply from the oil market.

  • The Trump administration has imposed sweeping sanctions on Venezuelan state-owned oil firm PDVSA, aimed at severely curbing the OPEC member's crude exports to the United States and at pressuring socialist President Nicolas Maduro to step down. OPEC, Russia and other non- OPEC producers- an alliance known as OPEC+- agreed in December to reduce supply by 1.2...

  • *Sheikh Tamim says ready for bigger investments in China. China has largely stayed out of the dispute, calling for the problem to be resolved via talks, but it has played host to senior Qatari officials since the spat began, including in December to the foreign minister. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic, trade and transport...

  • BEIJING, Jan 31- Chinese President Xi Jinping called for a return to "unity and harmony" on Thursday as he welcomed gas-rich Qatar's emir to Beijing, amid a dispute that has seen some Arab states led by Saudi Arabia severing relations with Doha. Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic, trade and transport ties with Qatar in June 2017.

  • SAUDI ARABIA, UAE AND KUWAIT POST BIGGEST PRODUCTION DECLINES- REUTERS SURVEY.

  • Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic, trade and transport ties with Qatar in June 2017. China has largely stayed out of the dispute, calling for the problem to be resolved via talks, though has played host to senior Qatari officials since the spat began, including in December to Qatar's foreign minister. China supports the...

  • BEIJING/ SINGAPORE, Jan 21- Chinese oil refiners raised their output to a record in 2018, led by state-run oil majors which maximised operations on firm profit-margins and private refiners which increased processing after being granted higher crude import quotas. Refiners processed 603.57 million tonnes of crude last year, or about 12.07 million barrels...

  • BEIRUT, Jan 19- Qatar's emir will visit Beirut on Sunday for an Arab economic summit which has been marred by regional rifts and internal Lebanese disputes even before it began. Rifts among Arab states over Syria and its ally Iran, on top of divisions inside Lebanon, have overshadowed the summit, with several leaders pulling out. Saudi Arabia, the United Arab...

  • A file photo showing a Libyan oil worker from the Libyan National oil and gas company checks an oil pipelines at the Zawiya oil installation in Zawiya, Libya.

    OPEC slashed production in December, delivering a bullish signal to the market one month before the producer group officially began a fresh round of output cuts.