Gulf Times - Oil-glut
Opec sees evidence of oil market moving to balance

Opec sees evidence of oil market moving to balance

Oil prices have risen in recent months, after both Opec and non-Opec countries struck a landmark deal at the end of last year to cut back production to combat a global oil glut.

Global oil glut set to last at least until mid-2017: IEA

Global oil glut set to last at least until mid-2017: IEA

A global oil glut that has hurt producers but means cheaper pump prices for consumers looks set to go on at least six months longer than previously thought, the International Energy Agency said on Tuesday.

IEA says oil glut remains a major dampener on prices

IEA says oil glut remains a major dampener on prices

The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-Opec production, the International Energy Agency said on Wednesday.

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.

Global oil supply glut to 'shrink dramatically' this year: IEA

Global oil supply glut to 'shrink dramatically' this year: IEA

A global oil glut that has sent prices tumbling is set to "shrink dramatically" later this year, as wildfires have disrupted Canada's output and demand in India soars, the International Energy Agency (IEA) said.

Oil prices tumble after Saudi-Iran tensions sink output deal

Oil prices tumble after Saudi-Iran tensions sink output deal

Oil prices tumbled on Monday after a meeting by major exporters in Qatar collapsed without an agreement to freeze output, leaving the credibility of the OPEC producer cartel in tatters and the world awash with unwanted fuel.