Edition:
United Kingdom

Alex Lawler

To boost confidence in oil cut, OPEC issues quota list

18 Jan 2019

LONDON OPEC on Friday published a list of oil production cuts by its members and other major producers for the six months to June, an effort to boost confidence in the move designed to avoid a supply glut in 2019.

Before start of new oil pact, OPEC made progress averting glut

17 Jan 2019

LONDON OPEC cut oil output sharply in December before a new accord to limit supply took effect, it said on Thursday, suggesting that producers have made a strong start to averting a glut in 2019 as a slowing economy curbs demand.

OPEC sees oil market not yet out of woods, tries to avoid new glut

17 Jan 2019

LONDON OPEC is seeking to avoid a build-up in oil inventories above the five-year average through a new deal with non-OPEC partners to curb supply in 2019, its secretary general told Reuters on Thursday.

Iran's crude exports stay subdued in Jan despite waivers: sources

11 Jan 2019

LONDON Iran will see its crude exports severely curtailed for a third month in January as it is struggling to find new buyers amid U.S. sanctions even though its traditional customers secured waivers, according to tanker data and industry sources.

Iran's crude exports stay subdued in January despite waivers: sources

11 Jan 2019

LONDON Iran will see its crude exports severely curtailed for a third month in January as it is struggling to find new buyers amid fresh U.S. sanctions even though its traditional customers secured waivers, according to tanker data and industry sources.

Iran's crude exports stay subdued in Jan despite waivers -sources

11 Jan 2019

LONDON, Jan 11 Iran will see its crude exports severely curtailed for a third month in January as it is struggling to find new buyers amid fresh U.S. sanctions even though its traditional customers secured waivers, according to tanker data and industry sources.

OPEC oil output posts biggest drop since 2017 on Saudi move

03 Jan 2019

LONDON OPEC oil supply fell in December by the largest amount in almost two years, a Reuters survey found, as top exporter Saudi Arabia made an early start to a supply-limiting accord while Iran and Libya posted involuntary declines.

OPEC's oil-cut pledge is vague, but Saudi plans lend some credibility

13 Dec 2018

LONDON OPEC's supply-cutting deal agreed last week is vague even by the standards of the oil producer group as no individual output targets are likely to be published, although precise plans from top exporter Saudi Arabia boost the agreement's credibility.

OPEC offsets Iran oil loss, sees lower 2019 demand

12 Dec 2018

LONDON OPEC said on Wednesday it had offset a drop in sanctions-hit Iranian oil exports and lowered the 2019 forecast of demand for its crude, underlining the challenge the producer group faces to prevent a glut even after last week's decision to trim output.

UPDATE 2-OPEC offsets Iran oil loss, sees lower 2019 demand

12 Dec 2018

* Developed economies' oil stocks back above five-year average

World News