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Tag Archives: Opec

Kuwait’s oil minister expects stable oil market

Kuwait’s oil minister, Bakhit Al Rashidi, said on Wednesday that the global oil market was approaching stability based on the current oil production levels after the recent Opec and non-Opec agreement to boost output. “It is clear today based on the current level of production that we are approaching a …

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Oil heads for a fourth weekly drop

Oil was poised for a fourth weekly decline as the unexpected halt in Saudi shipments through a Red Sea waterway failed to add a significant risk premium to prices, while concerns lingered over how the US-China trade spat will affect demand. US futures headed for a 1.4 per cent decline …

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How a surprise deal to boost world oil supply could ‘stir the pot’ in the Middle East, and pressure Saudi’s spare capacity

An impromptu agreement between the United States and Saudi Arabia to add more supply to increasingly tight oil markets is perceived as a test of the kingdom’s ability to pump more crude — and could further antagonize Iran and Venezuela, as both countries grapple with deteriorating conditions in their respective …

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