Europe Top News and Analysis Kuwait

  • 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.

  • *U.S. talks with Doha to supply Germany with LNG- official. DUBAI/ DOHA, Jan 14- The United States wants Qatar, the world's top liquefied natural gas supplier, to challenge Russia's gas dominance in Europe, a U.S. administration official said on Monday. Energy Secretary Dan Brouillette told Reuters that the United States is talking with Doha about supplying Europe...

  • *Dubai posts biggest rise since June 2017. *Qatar, Kuwait, Saudi all beat emerging market index in 2018. The Dubai index, which hit five-year lows last week, surged 2.4 percent-- it biggest rise since June 2017-- as real estate stocks rebounded.

  • BEIJING, Dec 27- Fresh misconduct allegations brought by Tokyo prosecutors against ousted Nissan Chairman Carlos Ghosn centre on the use of company funds to pay a Saudi businessman who is believed to have helped him out of financial difficulties, two company sources with knowledge of the matter said. According to the Nissan sources who have knowledge of the...

  • KUWAIT, Dec 23- OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market next year, the United Arab Emirates' energy minister said on Sunday. "The plan is well studied but if it does not work, we always have the power in OPEC to call for an...

  • KUWAIT, Dec 23- OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market next year, the United Arab Emirates' energy minister said on Sunday. "The plan is well studied but if it does not work, we always have the power in OPEC to call for an...

  • KUWAIT, Dec 23- If an agreed cut in oil output by 1.2 million barrels per day is not enough to balance the market, OPEC and allied producers will hold an extraordinary meeting and do what is necessary, the United Arab Emirates energy minister said on Sunday. The Emirati minister said a joint OPEC/ non- OPEC monitoring committee would meet in Baku at the end of February...

  • *OPEC secretariat to publish quotas this week. DUBAI, Dec 20- Oil producer group OPEC plans to release a table detailing output cut quotas for its members and allies such as Russia in an effort to shore up the price of crude, OPEC's secretary-general said in a letter seen by Reuters on Thursday. That is higher than the initially discussed 2.5 percent as OPEC seeks to...