Tag: cut
OPEC expected to deliver only half of target production cut – Kemp
By John Kemp LONDON (Reuters) – OPEC will achieve some but not all of the production cuts the organisation agreed last month, according to an informal survey of energy professionals conducted after the agreement was announced. Most energy professionals expect OPEC output will decline to around 33.0 million barrels per day in Jan. 2017, down […]
After two years, why an OPEC deal now? – Kemp
Saudi Arabia is acting in own interest by cutting production, even if producers fail to follow through on commitments By John Kemp LONDON (Reuters) – OPEC has finally agreed to cut production, but only after two years of fruitless negotiations. So what changed to make an agreement possible now, after it had eluded negotiators at […]
OPEC deal expected to tighten oil market in 2017: Kemp
Deal amounts to around 786,000 bpd of cuts pledged by Saudi Arabia and its allies, plus an uncertain cut amounts by non-core OPEC By John Kemp OPEC has reached an agreement to cut its oil output by almost 1.2 million barrels per day and been rewarded with an increase in nearby futures prices of around […]
OPEC plays the chicken game while oil prices fall: Kemp – Reuters News
No country wants to make OPEC concessions on output until a collective agreement on production allocations By John Kemp LONDON, Nov 11 (Reuters) – OPEC members are making the task of oil market rebalancing harder by maximising their production ahead of a ministerial conference at the end of Nov.. OPEC output is actually increasing, putting […]
Oil jumps on talk OPEC may have deal to limit output in Nov.
Iranian Oil Minister Bijan Zanganeh agreed to curb production “at close to 4 million barrels per day” By Barani Krishnan NEW YORK (Reuters) – Oil prices rose more than 2 percent in volatile trade on Wednesday on speculation that OPEC members gathered in Algeria could lay the foundation for a production-limiting deal in November. Crude futures had gyrated after a […]
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