Tag Archives: Reuters International News Agency

South Africa bought around 68.000 bpd of crude from Iran in May 2012.

Saudi Arabia and Russia. the world'.s top two oil producers. agreed on Monday on the need to extend output cuts for nine months until March 2018.

Goldman kept its average Brent price forecast for the third quarter of 2017 at $57 per barrel.

Iraq is with the continuation of a reduction of oil production of OPEC nations and we will push in that direction.

Global oil supply fell by 140.000 bpd in April to 96.17 million bpd.

Russia would keep output cuts of 300.000 barrels per day from the level of October 2016.

There could be more cuts if there are other non-OPEC countries that will join the agreement.

The headline crude oil drawdown number is certainly supportive. but it could be something a shooting star.

Malaysia relies on its only Fortune 500 company for nearly a third of its oil and gas-related revenue.

Global crude inventories have not fallen as fast as OPEC or the hedge funds anticipated.