Gulf Times - oil-market
Oil market needs effective system and coordination among producers for regulating supply, meeting demand

Oil market needs effective system and coordination among producers for regulating supply, meeting demand

The history of the global oil industry over the past 160 years teaches us that the absence of an effective oversight of the oil market leads to massive fluctuations that result in huge losses in the economies of countries ...

OPEC+ reaffirms continued commitment to stabilise oil market

OPEC+ reaffirms continued commitment to stabilise oil market

The 13th OPEC and non-OPEC Ministerial Meeting (ONOMM), concluded on Tuesday, reaffirmed the continued commitment of the participating countries in the Declaration of Cooperation (DoC) to a stable market ...

Global oil market recovery hinges on containing coronavirus pandemic

Global oil market recovery hinges on containing coronavirus pandemic

The price of oil is currently rising, due to the recovery of the Chinese market. The global demand for oil has decreased sharply in 2020 more than previously expected due to the Coronavirus pandemic ...

IEA says global oil market now close to balance

IEA says global oil market now close to balance

The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest nations, the International Energy Agency said.

Russia, Saudi can agree on oil market moves : Iran

Russia, Saudi can agree on oil market moves : Iran

Iran hopes non-OPEC Russia and OPEC heavyweight Saudi Arabia can agree to coordinate on possible actions on the global oil market, Iranian Oil Minister Bijan Zanganeh said on Sunday.

Oil market balancing: Saudi says non-OPEC countries willing to help

Oil market balancing: Saudi says non-OPEC countries willing to help

Saudi Arabia's Energy Minister Khalid al-Falih will not attend meetings on Wednesday between OPEC and non-OPEC countries in Istanbul but told Reuters he saw signs that countries outside OPEC were willing to contribute to balancing the oil market.

Oil market 'rebalancing' to continue: QNB

Oil market 'rebalancing' to continue: QNB

QNB expects rebalancing in the oil market to continue, driven mostly by demand growth, notwithstanding moderately higher supply from the world’s major producers.

UAE energy minister says oil market headed to balancing

UAE energy minister says oil market headed to balancing

UAE Energy Minister Suhail bin Mohammed al-Mazroui said in a Twitter message on Monday that the oil market was balancing but that production by some OPEC members was slowing recovery.

Russia says oil market talks with Saudi developing

Russia says oil market talks with Saudi developing

Russia, the world's top oil producer, is consulting with Saudi Arabia and other producers to achieve oil market stability, Energy Minister Alexander Novak said.

Qatar stocks extend gains as index inches near 11,000 mark

Qatar stocks extend gains as index inches near 11,000 mark

The Qatar Stock Exchange on Monday inched near the 11,000 mark mainly on the buying interests in the banking and telecom stocks.

Oil rises as supply disruptions soften supply glut

Oil rises as supply disruptions soften supply glut

Oil prices rose close to six-month highs on Friday as a series of supply outages in Nigeria, Canada and Libya tightened the global oversupply picture that has gripped the oil market for two years.

Opec signals greater oil glut in 2016 as its output surges

Opec signals greater oil glut in 2016 as its output surges

Opec said the global oil market is oversupplied and signalled the glut may increase this year, as surging output from its members makes up for losses from other countries whose production has been hit by a price fall.