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Saudi Arabia, Russia Boost Oil Supply by 250,000 Barrels in September

In its monthly Oil Market Report for October, OPEC lowered its demand forecast for both 2018 and 2019, adding strength to the cartel's contention that there's plenty of oil to meet demand......»»

Category: blogSource: 247wallstOct 11th, 2018

Saudi Arabia, Russia plan to raise oil production by 1 mn barrels/day

OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC and oil industry source.....»»

Category: topSource: business-standardMay 25th, 2018

Oil slumps as S Arabia, Russia consider output boost

Oil prices fell more than 2 percent towards $77 a barrel on Friday as Saudi Arabia and Russia said they were ready to ease supply curbs that have pushed crude prices to their highest since 2014. David Pollard reports......»»

Category: videoSource: reutersMay 25th, 2018

Oil prices fall on talk of hike in production, raising hope for dip in gasoline prices

Oil prices fell Friday as Saudi Arabia and Russia signaled they may boost production by up to 1 million barrels a day to offset lower glob.....»»

Category: topSource: usatodayMay 25th, 2018

Iran: 3 OPEC members to veto Saudi-proposed supply boost

Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week......»»

Category: topSource: moneycentralJun 17th, 2018

Oil holds near four-year highs as Saudi, Russia agree supply rise

Oil held near four-year highs on Thursday, supported by the imminent loss of Iranian supply through U.S. sanctions, but also tempered by the prospect of a rapid production boost from Saudi Arabia and Russia......»»

Category: topSource: reutersOct 4th, 2018

Oil hovers near four-year highs as Saudi, Russia agree supply rise

Oil held near four-year highs on Thursday, supported by the imminent loss of Iranian supply through U.S. sanctions, but also tempered by the prospect of a rapid production boost from Saudi Arabia and Russia......»»

Category: topSource: reutersOct 4th, 2018

Oil falls from four-year highs; Saudi, Russia agree to up supply

Oil prices fell on Thursday as the prospect of increased crude production from Saudi Arabia and Russia prompted profit-taking the day after futures hit four-year highs on a boost from imminent U.S. sanctions on OPEC's No. 3 producer Iran......»»

Category: topSource: reutersOct 4th, 2018

Oil falls 1% amid U.S.-China trade dispute, uncertainty on supply cuts

Oil prices fell more than 1% on Monday as U.S.-China trade tensions continued to threaten demand for crude and as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal......»»

Category: topSource: reutersJun 10th, 2019

Oil dips in volatile trade amid uncertainty on supply cuts, U.S.-China tariffs

Oil prices edged lower on Monday in volatile trading as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal and U.S.-China trade tensions continued to threaten demand for crude......»»

Category: topSource: reutersJun 10th, 2019

Oil steady in volatile trade amid uncertainty on supply cuts, U.S.-China tariffs

Oil prices were steady in volatile trading on Monday as major producers Saudi Arabia and Russia had yet to agree on extending an output-cutting deal and U.S.-China trade tensions continued to threaten demand for crude......»»

Category: topSource: reutersJun 10th, 2019

Oil rises on supply cuts, but weak economy holds market back

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should restrict supplies to current levels, while Washington's withdrawal of a tariff threat against Mexico removed a cloud over the global economy......»»

Category: topSource: reutersJun 10th, 2019

Oil rises as Saudi sees producers sticking with ongoing supply cuts

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia should keep supplies restricted at current levels, and in relief that the United States withdrew a tariff threat against Mexico, removing a cloud over the global economy......»»

Category: topSource: reutersJun 10th, 2019

Oil prices rise on likelihood of ongoing OPEC+ supply cuts

Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy......»»

Category: topSource: reutersJun 9th, 2019

Oil ends week on rebound as Saudis, Russia strike a deal

Oil ended a tumultuous week on the upswing after Saudi Arabia and Russia reiterated their commitment to averting a global supply glut and U.S. President Donald Trump declared progress in his standoff with Mexico......»»

Category: topSource: moneycentralJun 7th, 2019

Oil rebound continues as Saudis and Russia pledge coordination

Oil rallied for the second day as Saudi Arabia and Russia reiterated their commitment to averting a global supply glut......»»

Category: topSource: moneycentralJun 7th, 2019

Saudi Aramco bets on oil supply to Europe, trading expansion

Saudi Aramco aims to boost its oil supply to Europe by 300,000 barrels per day (bpd) within the next two years as it expands its trading operations there with an office opening this summer in London, a senior company executive said......»»

Category: topSource: reutersMay 14th, 2019

OPEC in the dark on oil supply as Russia, Iran cut exports

OPEC is in the dark on the oil supply outlook for the second half of this year, with Iranian and Russian outages looking increasingly significant but Saudi Arabia reluctant to pump more due to fears of a price crash, sources in the organization said......»»

Category: topSource: reutersMay 9th, 2019

OPEC Crude Production Slipped in February on Saudi, Venezuelan Reductions

Saudi Arabia and Venezuela posted sharp oil production cuts in February, helping boost the price for OPEC barrels up by 3%......»»

Category: blogSource: 247wallstMar 14th, 2019

Oil will skyrocket to $100 a barrel if Saudi Arabia gets its way

Joe Raedle/Getty Images Saudi Arabia is looking to boost oil prices to boost the value of Saudi Aramco's planned IPO. OPEC has the same agenda of course, and the compliance rate for supply cuts .....»»

Category: topSource: businessinsiderApr 21st, 2018

Oil soars to 3-yr high as Saudi withholds supply, seeking $80-100 a barrel

Led by Saudi Arabia, OPEC and a group of other producers that includes Russia started to withhold output in 2017 to rein in oversupply that had depressed prices since 2014.....»»

Category: topSource: business-standardApr 19th, 2018