Tag Archives: Market

Rising U.S. production helped fuel a slump in prices.

The group is ``extremely assured. optimistic`` for oil in the short and medium term. with investments flowing back sooner than later.

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Oil market was in a much better position than it was last year. which was a result of producers complying with the cuts.

Oil prices have risen by more than 20% since September on the back of expectations for a deal extension.

OPEC members will discuss extension of the body'.s production cut plan to curb the global oil glut and rebalance the market.

The market had been looking forward to a supportive number due to the pipeline disruption from Canada.

Saudis want production cuts extended through 2018. while Moscow wants flexibility.