Tag Archives: Saudi Arabia

Russia maintains its oil-price outlook at $50 to $60 on average for this year.

Prices edged higher by 0.35% to $48.88 in early trading on Friday.

Equatorial Guinea has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC).

OPEC decided on Thursday to extend cuts in oil output by nine months to March 2018.

OPEC members are preparing to hold meeting on May 25 to discuss the market and oil cut deal in Vienna.

Kuwait is part of a joint OPEC/non-OPEC ministerial monitoring committee.

Iraqi prime minister also agreed on the need to extend OPEC cuts for a nine-month period.

Some 50.000 barrels will be added to Doroud and Soroush fields'. daily output by the end of the present fiscal.

The MoU aims to generate USD 4 billion in annual productivity improvement.

Saudi Arabia still loses sleep over the price of oil. Not for much longer.