Oil producers' compliance with deal at 94 per cent
Oil Production
Kuwait City - Arab Today
Compliance with a deal to cut oil output is at 94 per cent among Opec and non-Opec oil producers combined, Russian Energy Minister Alexander Novak told reporters on Sunday.
He also said Russia had cut its exports by 187,000 barrels per day so far and its cuts would reach 210,000 bpd in a few days. Russia is committed to cuts of 300,000 bpd by the end of April, he added.
Novak said he expects global oil stockpiles to decrease in the second quarter of this year.
Demand-supply balance
The oil market may return to balance by the third quarter of this year if producers comply with their deal to cut output, otherwise the timeframe for rebalancing could be pushed out further, Kuwaiti oil minister Essam Al Marzouq said on Sunday.
Marzouq told reporters that there needed to be 100 per cent compliance among producers with the deal.
However, there has been some progress towards rebalancing and producers' output numbers for February and March were well received by the market, Marzouq said.
Source :Times Of Oman
- Sunday ,09 December GMT 13:35 2018 OPEC+ deal to ensure stability of oil price, that is positive for Russia
GMT 13:35 2018 Sunday ,09 December
OPEC+ deal to ensure stability of oil price, that is positive for RussiaGMT 17:28 2018 Friday ,16 November
OPEC Basket Price Stood, at over $65.2, on ThursdayGMT 13:46 2018 Thursday ,04 October
OPEC daily basket price announced for WednesdayGMT 09:53 2018 Monday ,01 October
OPEC daily basket price announced for FridayGMT 11:07 2018 Tuesday ,25 September
OPEC daily basket price announced for MondayRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 22:32 2015 Monday ,02 February
Algerian poets at International Poetry Festival in Tunisia
GMT 13:26 2018 Wednesday ,12 December
Russian activist Butina allegedly agrees to plead guilty to conspiracy
GMT 12:10 2017 Friday ,07 April
Bundesliga hot-shots face off in Germany's 'Klassiker'
GMT 12:27 2017 Friday ,24 March
Iran’s Soleimani must be brought to justice
GMT 21:36 2018 Thursday ,13 December
Yemen's warring sides agree on ceasefire in embattled Hodeida
GMT 01:27 2016 Tuesday ,20 September
New Tech Could Read Books without Opening Them
GMT 11:12 2016 Wednesday ,07 December
US,China must have close, friendly relationship
GMT 19:30 2016 Wednesday ,12 October
Iranian woman faces imminent execution after “unfair trial“
GMT 18:36 2017 Monday ,14 August
Defense minister, chief of staff meet Jordanian military officialGMT 22:44 2011 Wednesday ,23 February
Clashes in Greece at anti-austerity demo
GMT 21:25 2017 Thursday ,20 April
Sisi receives US defence secretary
GMT 05:26 2015 Sunday ,08 February
2 killed, 2 injured in car accident in Kafr al-Sheikh
GMT 18:33 2017 Sunday ,02 July
View Jebel Jais from a whole new angle
GMT 08:19 2018 Friday ,19 January
Airbus gets early 2018 jump on rival Boeing
GMT 17:56 2017 Wednesday ,22 February
SEC, PCMC sign agreement to reduce carbon emissionsGMT 14:12 2011 Tuesday ,15 November
Hong Kong seizes record haul of rhino horns
GMT 13:14 2015 Sunday ,29 March
Hendricks wows in detachable gownGMT 08:33 2012 Thursday ,23 February
Canon G1 X
GMT 19:09 2017 Saturday ,29 July
Nasr in Romania to promote investment in Egypt
GMT 07:12 2017 Tuesday ,28 November
Dawood happy for participating in Cairo Festival
GMT 19:34 2015 Tuesday ,09 June
Egypt hails IAEA's support for nuclear energy programme
GMT 23:24 2015 Thursday ,25 June
2 drinking water stations to be set up in Qalubiya town
GMT 00:24 2017 Monday ,03 April
3 shot dead in Mexican resort of Cancun
GMT 20:44 2017 Monday ,01 May
CAPMAS: Volume of labor force rose to 28.934 mln in 2016
GMT 13:31 2017 Thursday ,03 August
Abe poised to reshuffle Cabinet as support slides
GMT 02:42 2015 Thursday ,06 August
All security measures taken to safeguard New Suez Canal inauguration
GMT 17:22 2017 Saturday ,22 April
Olympique Khouribga’s coach promises to win coming match
GMT 16:04 2016 Friday ,18 November
Shyamalan: 'I definitely feel like an outsider'
GMT 20:36 2017 Tuesday ,14 March
Libya and Nigeria still on slow oil recovery pathGMT 21:51 2011 Wednesday ,17 August
Tintin and the Iraqi kingGMT 07:24 2012 Friday ,23 November
Ministers take ‘Union Tree’ initiative ahead
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor