NEW DELHI, Jan 22- Brazil will start discussions on joining the Organization of the Petroleum Exporting Countries during a visit to Saudi Arabia in July, its energy minister Bento Albuquerque said on Wednesday. "I have a visit to Saudi Arabia in the middle of this year, then we can start the discussion," Albuquerque told Reuters, adding that Brazil's membership in...
*Most of Libya's oil export capacity under force majeure. *Oil disruption could be offset by OPEC output- PAJ president. LONDON, Jan 21- Oil prices fell more on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya's crude production to a trickle.
The bank also raised its growth estimates for the United States and China following the Phase 1 trade deal sign last week. The relative calm in oil markets hides the shifting underlying dynamics such as more aggressive output cuts by the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, rising U.S. shale growth constraints and...
*Oil disruption could be offset by OPEC output- PAJ president. SINGAPORE, Jan 21- Oil prices fell nearly 1% on Tuesday as investors expected Libya's oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade. "The situation in Libya provided oil prices an early boost but the rally...
*Oil disruption could be offset by OPEC output- PAJ president. SINGAPORE, Jan 21- Oil prices fell nearly one percent on Tuesday as investors expected Libya's oil production to eventually resume following a force majeure declared by the oil exporter on two major oilfields amid a military blockade. "The situation in Libya provided oil prices an early boost but the...
*Oil disruption could be offset by OPEC output- PAJ president. SINGAPORE, Jan 21- Oil prices eased on Tuesday as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade. Two major oilfields in southwest Libya began shutting down on Sunday after a pipeline was closed off,...
*Graphic on Libya export: https://tmsnrt.rs/30D1s02. LONDON, Jan 20- Oil prices rose to their highest in more than a week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on Sunday after...
*Graphic on Libya export: https://tmsnrt.rs/30D1s02. LONDON, Jan 20- Oil prices rose to their highest in more than a week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on Sunday after...
*Two major oilfields in southwest Libya begin shutting down. LONDON, Jan 20- Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on Sunday...
*Two major oilfields in southwest Libya begin shutting down. LONDON/ TOKYO, Jan 20- Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on...
*Two major oilfields in southwest Libya begin shutting down. LONDON/ TOKYO, Jan 20- Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. Two major oilfields in southwest Libya began shutting down on...
Mohammed Barkindo says the Organization of the Petroleum Exporting Countries can only adjust supply to keep the oil markets balanced while watching fluctuations in demand "with very keen interest."
The oil market is "still not ready" to absorb OPEC's production cuts, said Sushant Gupta, a research director at Wood Mackenzie.
Sushant Gupta from Wood Mackenzie says the Organization of the Petroleum Exporting Countries is aware the oil markets will continue to be oversupplied at least in the first half of this year.
However, the region's share of India's crude shrank to 60% last year- down from 65% a year ago and the lowest since 2015- as record output from the United States and countries like Russia offered opportunities for importers to tap other sources. Deeper than expected oil output cuts by OPEC and allies, shouldered by Saudi Arabia, and less supply from Iran due to U.S....
TOKYO, Jan 20- Oil prices jumped on Monday after two large crude production bases in Libya began shutting down amid a military blockade, setting the stage for crude flows from the OPEC member to be cut to a trickle. In the latest development in a long-running conflict in Libya, where two rival factions have claimed the right to rule the country for more than five...
Brooge Holdings CEO Nicolaas Paardenkooper sits down with Brian Sullivan to discuss his company's listing on the Nasdaq and plans for growth.
OPEC Secretary-General Mohammed Barkindo discusses oil demand growth forecasts as well as tensions in the Middle East.
NEW YORK, Jan 17- Schlumberger NV reported a slightly better-than-expected quarterly profit on Friday as higher drilling activity in international markets boosted demand for its equipment and services, offsetting weakness in North America. Chief Executive Officer Olivier Le Peuch said he expected OPEC+ output cuts would slow investments in Russia and the...
OPEC is not a cartel because it does not have "monopolistic capabilities," says Saudi Arabian Prince Turki Al-Faisal. He also says oil is Saudi Arabia's "lifeline" and safeguarding its security is the kingdom's "ultimate priority."
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