Middle-east Arab News Opinion | Asharq Al-awsat

Media ID: 55368447
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A table with OPEC logo is seen during the presentation of OPEC’s 2013 World Oil Outlook in Vienna , November 7, 2013. REUTERS/Leonhard Foeger

Oil Rises as OPEC Achieves Output Targets

by Asharq Al-Awsat English | Mar 1, 2017 | Business

Oil rates registered a substantial increase on Wednesday as optimism flooded the market in response to OPEC members sticking to a cut in production. The rise in prices happened despite United States production rocketing on a gain oriented approach. The Organization of...

Media ID: 55363749
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Pump jacks are seen in the Midway Sunset oilfield, California, in this April 29, 2013 file photo. REUTERS/Lucy Nicholson/Files

Oil Hits Highest Rate since 2015

by Asharq Al-Awsat English | Dec 12, 2016 | Business

Oil recorded a remarkable increase of 6.5 percent on Monday to an 18-month high after OPEC and some of its rivals reached their first deal since 2001 to jointly reduce output to try to tackle global oversupply and boost prices. Futures for Brent crude were up $2.21 at...

Media ID: 55359326
Caption:

A man walks past an OPEC logo ahead of an informal meeting between members of the Organization of the Petroleum Exporting Countries (OPEC) in Algiers, Algeria September 28, 2016. REUTERS/Ramzi Boudina

Oil Rates Enhance after OPEC Optimism

by Asharq Al-Awsat English | Sep 29, 2016 | Business

Oil prices marched higher by 3 percent on Thursday, extending their rally on optimism over OPEC’s first output cut plan in eight years. The Organization of the Petroleum Exporting Countries agreed on Wednesday to cut output to 32.5-33.0 million barrels per day...