VIENNA, Dec 6- OPEC and its allies would only ease supply curbs and pump more oil once global crude inventories fall and pricing reflects a tighter market, Saudi Arabia's energy minister told Reuters. Saudi Arabia spearheaded a deal on Friday with Russia and the other so-called OPEC+ oil producers to deepen output cuts through the first quarter of 2020..
VIENNA, Dec 6- OPEC and its allies would only ease supply curbs and pump more oil once global crude inventories fall and pricing reflects a tighter market, Saudi Arabia's energy minister told Reuters. Saudi Arabia spearheaded a deal on Friday with Russia and the other so-called OPEC+ oil producers to deepen output cuts through the first quarter of 2020..
SAUDI ENERGY MINISTER SAYS EXPECTS OIL OUTPUT RESUMPTION FROM JOINT FIELDS WITH KUWAIT "VERY SOON", WILL NOT IMPACT OPEC CUT COMMITMENTS.
*For timeline of OPEC cuts, click. A panel of energy ministers representing the Organization of the Petroleum Exporting Countries and non- OPEC producers led by Russia recommended the deeper cut on Thursday, Russian Energy Minister Alexander Novak said. Details of the agreement and how the cuts will be distributed among producers still need to be ratified at a...
*Russia says new cuts will last until Q1, OPEC wants more. VIENNA, Dec 5- OPEC and allies led by Russia on Thursday agreed one of the deepest output cuts this decade to support crude prices and prevent a glut but were still debating how long the curbs would last next year. OPEC will then meet on Friday with Russia and other producers, a grouping known as OPEC+.
DUBAI, Dec 4- An oil price of $60- $70 a barrel is an appropriate price for producers and consumers, Kuwait's oil minister Khaled al-Fadhel said on Wednesday in Vienna, according to state news agency KUNA.
CHINA- China's central bank lowered as widely expected its lending benchmark rate on Nov. 20, to reduce company funding costs and shore up an economy hurt by slowing demand and U.S. trade tariffs. ZAMBIA- Policy makers raised the country's benchmark lending rate by 125 basis points to 11.5% on Nov. 20, citing rising consumer price inflation and the need to restore...
LONDON, Nov 29- OPEC oil output has fallen in November as Angolan production has slipped due to maintenance and Saudi Arabia has kept a lid on supply to support the market before the initial public offering of state-owned Saudi Aramco, a Reuters survey found. The survey suggests Saudi Arabia, after resuming normal supply after attacks on facilities in September,...
LONDON, Nov 29- OPEC oil output has fallen in November as Angolan production has slipped due to maintenance and Saudi Arabia has kept a lid on supply to support the market before the initial public offering of state-owned Saudi Aramco, a Reuters survey found. The survey suggests Saudi Arabia, after resuming normal supply after attacks on facilities in September,...
DUBAI/ ABU DHABI, Nov 27- The sovereign wealth funds of Abu Dhabi and Kuwait plan to invest in the initial public offering of Saudi Aramco, which is relying mainly on Saudi and Gulf investors to raise up to $25.6 billion, sources familiar with the matter said. Abu Dhabi Investment Authority is weighing an investment of at least $1 billion, five sources familiar with...
Chinese businesses have quietly scaled back from expanding in the U.S. amid the trade war and some are looking to places like Saudi Arabia, Russia and Japan.
KUWAIT/ DUBAI, Nov 18- Kuwait's caretaker prime minister Sheikh Jaber al-Mubarak declined to be reappointed as premier in the OPEC oil producer on Monday, rebuffing the offer from the ruling emir after submitting the government's resignation last week. Kuwait's Emir Sheikh Sabah al-Ahmad al-Sabah, 90, earlier on Monday removed his son, Defence Minister...
*Biggest Middle East aerospace event held on Nov 17-21. DUBAI, Nov 15- An eight-month crisis over the grounding of Boeing's 737 MAX jets and widespread industrial delays are setting an unpredictable backdrop to next week's Dubai Airshow, with some airlines reviewing fleet plans even as others look for bargains. State-owned flydubai expects its fleet will now...
DUBAI, Nov 14- The United Arab Emirates and Egypt plan to jointly invest $20 billion in economic and social projects, under a bilateral project announced by the crown prince of Abu Dhabi Sheikh Mohammed bin Zayed al-Nahyan on Thursday. The UAE, and Saudi Arabia, have been the main backers of Sisi since he took power after the overthrow of president Mohamed Mursi in...
*ICE, where Brent trades, to co-own new Abu Dhabi exchange. ABU DHABI, Nov 12- A United Arab Emirates plan to launch its own global oil benchmark was thrown into confusion on Tuesday after comments made by its own national oil company. It will be traded on a new local exchange, ICE Futures Abu Dhabi, that will be co-owned by Abu Dhabi, several oil majors and the...
KUWAIT, Nov 5- Regulators should work together in recertifying the grounded Boeing 737 MAX airliner instead of pursuing separate approval processes, the head of the International Air Transport Association said on Tuesday. Some international regulators have said they plan to conduct they own checks and not simply follow the U.S. Federal Aviation...
KUWAIT, Nov 5- The aviation industry is to launch a campaign it hopes will counter a' flight shaming' movement that has weakened demand for air travel in Europe where some travelers are increasingly concerned about their environmental impact. Global lobby International Air Transport Association, which represents nearly 300 airlines, is coordinating the...
DUBAI, Nov 4- Abu Dhabi's Supreme Petroleum Council approved on Monday the launch of a new pricing mechanism for Abu Dhabi National Oil Cos flagship Murban crude, ADNOC said, part of the state energy company's broader transformation strategy. Long seen as one of the most conservative oil firms in the Middle East, ADNOC has been overhauling its trading operations...
*Abu Dhabi announces higher oil and gas reserves, new gas finds. DUBAI, Nov 4- Abu Dhabi's Supreme Petroleum Council approved on Monday the launch of a new pricing mechanism for Abu Dhabi National Oil Cos flagship Murban crude, ADNOC said, part of the state energy company's broader transformation strategy. The SPC, Abu Dhabi's highest governing body for the oil and...
SÃO PAULO, Oct 29- Brazilian food processor BRF SA on Tuesday announced an agreement to invest around $120 million to build its first chicken processing plant in Saudi Arabia in a bid to strengthen its position in what is considered a key growth market. The investment underscores BRF's strategy to remain a leading supplier to countries of the Gulf Cooperation...
Data also provided by 
