Tags

, , , , , , , , , , , , , , , , , , ,

Saudi Arabia Says Oil to Stabilize

Saudi Arabia’s oil minister said crude prices will stabilize while the United Arab Emirates said OPEC will do what it takes to balance the market.
Weak Commodity Prices Might Take A Toll On Seadrill (SDRL)  
Oil Prices Up Slightly Before OPEC Meeting  

OPEC looks for help to tackle oil supply glut

Channel News Asia – ‎8 minutes ago‎
“To deal with this situation we need to have a contribution from non-OPEC producers for managing the market,” Iran’s Oil Minister Bijan Namdar Zanganeh told reporters on arrival in Vienna, where the cartel is headquartered.

VIENNA: OPEC needs non-cartel members to help address an oil supply glut that is set to grow next year, Iran’s oil minister said here on Wednesday (Nov 26).

“All the experts in the markets believe that we have an oversupply on the market and next year we will have more oversupply,” Iran’s Oil Minister Bijan Namdar Zanganeh told reporters.

But Zanganeh said it was not solely up to the Organisation of the Petroleum Exporting Countries to tackle the oversupply which is sending crude prices crashing to four-year low points. “To deal with this situation we need to have a contribution from non-OPEC producers for managing the market,” he told reporters on arrival in Vienna, where the cartel is headquartered.

Rouble loses ground as market hopes of OPEC output cut fade

Business Recorder – ‎4 minutes ago‎
image MOSCOW: The rouble fell for a second day on Wednesday on fading hopes that OPEC will agree to cut oil output and as foreign-currency sales dried up after exporters finished paying a major tax to the state budget. At 1130 GMT, the rouble was .

Russia says will keep oil output steady in 2015

The Star Online – ‎27 minutes ago‎
MOSCOW (Reuters) – Russian oil companies will keep production steady in 2015, Energy Minister Alexander Novak said on Wednesday, after Moscow left a meeting with other major oil producers with no agreement on how to address weak oil prices. Russia …

Saudis signal no push for oil cut as market to “stabilise itself”

VIENNA, Nov 26 (Reuters) – OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group’s meeting this week, a day after Russia refused to cooperate in any production cut.

Saudi Arabia signals no Opec output target change  Financial Times
WTI Oil Trades Near 4-Year Low as OPEC Sends Mixed Signal  Businessweek
Related articles »

Canada’s oil boom takes toll on cowboys, propels beef prices

There’s been a lot of attention paid to how Canada’s oil boom has helped make gasoline cheaper. What many people may not realize is that the boom is also driving up the prices they pay for burgers and steaks.

Oil boom ropes in cowboys, leaving cattle ranches in the lurch  The Age
Oil boom leaves Canada short of cowboys  HeraldNet
Related articles »

Advertisements