Gulf Times - inventories
Oil hits highest since May 2015 above $68 on tighter market

Oil hits highest since May 2015 above $68 on tighter market

The Organisation of the Petroleum Exporting Countries and allies including Russia are keeping supply limits in place in 2018, a second year of restraint, to reduce a price-denting glut of oil held in inventories.

Opec winning battle to end oil glut, say ministers

Opec winning battle to end oil glut, say ministers

The Organisation of the Petroleum Exporting Countries, Russia and several other producers have cut production by about 1.8mn barrels per day since the start of 2017, helping lift oil prices by 15% in the past three months.

Oil hovers near 8-week highs on lower US inventories

Oil hovers near 8-week highs on lower US inventories

Oil prices held just below eight-week highs on Thursday, supported by a steeper-than-expected decline in US crude inventories that boosted expectations of a shift to a more balanced market.

Iraq says it has achieved Opec oil cut share

Iraq says it has achieved Opec oil cut share

Iraq has achieved its share of the production cuts agreed by Opec and non-Opec producers at the end of last year but remains ready to meet future oil demand growth, Iraqi oil minister Jabar al-Luaibi said in a speech on Monday.

Saudi says extending oil cuts could help drain stocks

Saudi says extending oil cuts could help drain stocks

Saudi Arabia's energy minister said that extending the current agreement on global oil supply cuts until March next year, and adding one or two small producers to the pact, should be enough to reduce oil inventories.