Edition:
United Kingdom

Ahmad Ghaddar

Libyan central bank chief says oil blockade must be lifted

24 Jan 2020

LONDON A blockade of major Libyan oil ports is damaging the economy and must be quickly resolved, the Tripoli-based central bank governor told Reuters on Friday, adding that Libya could run a budget deficit in 2020 as a result.

Defying U.S. sanctions, Iran boosts gasoil sales to neighbours

16 Jan 2020

LONDON Iran is relying on its neighbouring countries to sell a surplus of gasoil it has created at home due to U.S. sanctions, trade documents and industry data showed.

European diesel margins sag before new shipping fuel rules

11 Dec 2019

LONDON European diesel refining profit margins have tumbled as a slowing global economy has hit fuel demand harder than forecast despite expectations of a boost from new fuel shipping rules.

OPEC, allies agree to deepen oil output cuts

05 Dec 2019

VIENNA/LONDON Oil producers led by Saudi Arabia and Russia agreed on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March.

U.S. scoops up overseas fuel oil in pre-IMO push

08 Nov 2019

LONDON/NEW YORK The United States is taking advantage of record-low prices of one of the world's dirtiest fuels by buying record volumes, which it intends to upgrade into cleaner products before new shipping rules take effect, trading and analyst sources say.

OPEC, allies to mull deeper oil cut amid worries over demand growth

22 Oct 2019

DUBAI/MOSCOW/LONDON OPEC and its allies will consider whether to deepen cuts to crude supply when they next meet in December due to worries about weak demand growth in 2020, sources from the oil-producing club said.

U.S. shipping sanctions deal European refiners an unexpected boost

17 Oct 2019

(This Oct. 16 story removes graphic at request of data provider, no changes to the text)

OPEC in compliance push before December meeting; Gabon says will adhere

11 Oct 2019

LONDON Gabon has told OPEC it will comply fully with its pledge to cut oil output under a 2019 supply deal between the exporter group and rivals such as Russia, in the latest sign of an OPEC push to improve compliance before its next meeting in December.

UPDATE 1-OPEC in compliance push before Dec meeting; Gabon says will adhere

11 Oct 2019

LONDON, Oct 11 Gabon has told OPEC it will comply fully with its pledge to cut oil output under a 2019 supply deal between the exporter group and rivals such as Russia, in the latest sign of an OPEC push to improve compliance before its next meeting in December.

World News