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  • OPEC output cap seen remaining in place

    The oil price remains above $60 per barrel Tuesday, as the current oil output cap between OPEC and some non-OPEC producers is expected to remain in place in 2018. Question marks are also being raised over the future level of output from US shale oil producers. read » October 2017
  • Oil price still supported by other developments

    Oil price moved a little lower Thursday following data showing Us oil inventories rose unexpectedly in the week end Oct 20. However, the ongoing Iraqi conflict around Kirkuk and apparent growing support of an extension to the OPEC output cap helped limit the fall. read » October 2017
  • Northern Iraq oil supply declines

    The oil price rose Monday as Iraqi fighting around the strategically important city of Kirkuk continued, Us oil drilling fell for a third week and OPEC continues to comply with the output cap agreement. read » October 2017
  • Total CEO anticipates oil output cap to run for longer

    The oil price maintained its upward momentum Wednesday supported by a number of developments, including a higher than expected draw down on US oil stocks and comments the OPEC and Russia output cap agreement would likely be extended. read » October 2017
  • Brent crude around $58 per barrel

    Oil prices rose on Monday as tensions in the Iraqi conflict rise and demand for oil from China remains strong. read » October 2017
  • Further agreements on oil output needed

    The price of oil rose Thursday after news US inventories and production both fell again, while oil imports by china remained strong. However, an IEA report suggested the oil price could hit a ceiling next year if more isn't done to curb production among both OPEC and non-OPEC members. read » October 2017
  • Oil price re-balancing requires additional work

    OPEC's secretary general has called on Us shale oil producers to assist the supply-demand re-balancing effort and to consider becoming part of a solution that would benefit everyone. read » October 2017
  • Russian President suggests output cut extension

    The oil price gained a little ground Wednesday as Russian President Putin suggested the current OPEC output cut agreement could be extended beyond the current end date of March 2018. read » October 2017
  • Oil price falls on reduction in OPEC output cut compliance, stronger dollar

    The price of oil fell in Monday trading on concerns OPEC producers aren't complying with the output cut agreement and due to the stronger US dollar. read » October 2017
  • Brent crude hit 2-year high Monday

    Brent crude hit a two-year high Monday on comments over a further slowdown in production from Turkish president Erdogan and BP executive Janet Kong. read » September 2017
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