Gulf Times - global-glut
Strong oil demand growth helping market rebalance: IEA

Strong oil demand growth helping market rebalance: IEA

World oil demand will grow more than expected this year, helping to ease a global glut despite rising production from North America and weak Opec compliance with output cuts, the International Energy Agency said on Friday.

Oil touches three-month lows as US supply swells

Oil touches three-month lows as US supply swells

Oil hovered around three-month lows on Monday, as rising inventories and drilling activity in the United States, the world's top energy consumer, offset optimism over Opec's efforts to restrict crude output and reduce a global glut.

Oil soars 6% as Opec reaches deal to limit output in Nov

Oil soars 6% as Opec reaches deal to limit output in Nov

Oil prices jumped as much as 6% on Wednesday after Opec sources said the group has reached a deal to limit crude output at its policy meeting in November, a source for the producer group said.

Saudis to push oil output higher but won't flood market - sources

Saudis to push oil output higher but won't flood market - sources

Saudi Arabia's oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources said.