Middle-east Arab News Opinion | Asharq Al-awsat

Media ID: 55363127
Caption:

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 up More Than 8 pct as OPEC Finalizes Output Cut Deal

by Asharq Al-Awsat English | Nov 30, 2016 | Business

Oil prices soared more than 8 percent on Wednesday as some of the world’s largest oil producers agreed to curb oil output for the first time since 2008 in a last-ditch bid to support prices. Crude prices, however, are unlikely to skyrocket in reaction to the...

Media ID: 55358253
Caption:

A drilling rig is pictured at a well pad of the Rosneft-owned Prirazlomnoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. REUTERS/Sergei Karpukhin

OPEC Predicts Hike in 2017 Surplus

by Asharq Al-Awsat | Sep 13, 2016 | Business

Demand for crude from the Organisation of the Petroleum Exporting Countries will average 32.48 million barrels per day (bpd) in 2017, OPEC said in a monthly report on Monday. That is down from the previous forecast of 33.01 million bpd. OPEC itself kept output near a...