Optimistic Algeria deal will be implemented, says Saudi OilMin Al Falih
Nov 17, 2016 15:52 pm UTC| Commentary
Saudi Oil Mininister Al Falih said earlier on Thursday that he is optimistic Algeria deal will be implemented. He said that the agreement on oil output cut will be reached at the Vienna meeting likely to be held later this...
Oil in Global Economy Series: OPEC deal hope revived by Alexander Novak
Nov 17, 2016 06:41 am UTC| Commentary
Russian energy minister Alexander Novak has revived the hopes of an OPEC deal when members meet in Vienna on November 30th. We at FxWirePro have sincerely expressed our doubts and forecasted that a deal is unlikely. Read...
Saudi Arabia warns President-elect Trump on oil imports
Nov 16, 2016 08:30 am UTC| Commentary
Saudi Arabia has warned the President-elect Donald Trump that he would hinder the economic growth in the United States if he moves along his campaign promises to block imports of crude oil from OPEC countries namely Saudi...
Oil in Global Economy Series: Why a fully implemented OPEC deal is unlikely?
Nov 16, 2016 06:45 am UTC| Commentary
In September member countries of OPEC surprised the global market by agreeing to a landmark deal that would limit the cartels production between 32.5 million barrels per day and 33 million barrels per day. As of October,...
Oil in Global Economy Series: Who in OPEC will take cuts?
Oct 26, 2016 11:25 am UTC| Commentary
Concerns have surfaced inside OPEC on two fronts; Iraq, Iran, and Venezuela have accused the OPEC secretariat of under-reporting their production numbers and Iraq have called for an exemption from the cuts. While the first...
Oil in Global Economy Series: OPEC deal commitment doesn’t match production
Oct 26, 2016 09:27 am UTC| Commentary
Organization of Petroleum Exporting Countries (OPEC) has agreed to a deal in September to keep the production from the organization between 32.5 million and 33 million barrels per day. We have expressed our concerns with...
Oil in Global Economy Series: OPEC suffers internal war over freeze deal
Oct 24, 2016 06:30 am UTC| Commentary
When it came out that a deal was reached between the OPEC member countries to freeze production between 32.5 million barrels per day to 33 million barrels, we asked our readers to keep their fingers crossed, at least until...
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