OPEC, allies set to agree oil cut extension to end of 2018

VIENNA – OPEC and non-OPEC oil producers look poised to agree at a meeting on Thursday to extend output cuts until the end of 2018, four OPEC sources said as the group seeks to clear a global glut of crude and avoid another price crash. Some last-minute debate was still possible on the language of an expected statement, with non-OPEC Russia pushing for a clear message on how to exit the cuts so the market…

"OPEC, allies set to agree oil cut extension to end of 2018"

Oil prices slide on higher U.S. supply, doubts about Russia’s resolve

NEW YORK – Oil prices fell more than a dollar on Monday, with U.S. crude easing from two-year highs on prospects of higher supply, and uncertainty about Russia’s resolve to join in extending output cuts ahead of this week’s OPEC meeting. U.S. light crude was down $1.21 or 2 percent to $57.74 a barrel by 11:25 a.m. EDT. Brent crude oil LCOc1 was down 51 cents or 0.8 percent to $63.35 a barrel. Oil prices…

"Oil prices slide on higher U.S. supply, doubts about Russia’s resolve"

Big gas exporter countries blast unilateral sanctions in dig at U.S

SANTA CRUZ, Bolivia – Representatives from a group of major energy-exporting nations on Friday said they oppose the use of unilateral sanctions on any of their members – an apparent dig at the United States for its moves against Russia, Iran and Venezuela. The Gas Exporting Countries Forum, which also includes members like Libya, Equatorial Guinea and Nigeria, expressed their “profound concern” about sanctions affecting the gas sector that are not authorized by the United…

"Big gas exporter countries blast unilateral sanctions in dig at U.S"

Russia, Saudi Arabia cement new friendship with king’s visit

MOSCOW – Russian President Vladimir Putin hosted Saudi Arabia’s King Salman for talks at the Kremlin on Thursday, cementing a relationship that is pivotal for world oil prices and could decide the outcome of the conflict in Syria. King Salman, the first sitting Saudi monarch ever to visit Russia, led a delegation to Moscow that agreed joint investment deals worth several billion dollars, providing much-needed investment for a Russian economy battered by low oil prices…

"Russia, Saudi Arabia cement new friendship with king’s visit"

Oil rises 2 percent, boosted by potential OPEC deal

NEW YORK – Oil prices rose about 2 percent on Thursday as signs Saudi Arabia and Russia would limit production through next year pushed the U.S. benchmark back above $50 a barrel. The news outweighed Wednesday’s U.S. data showing record U.S. exports and the return of production at a major Libyan oilfield. Brent futures LCOc1 settled at $57 a barrel, up 2.2 percent, or $1.20, while U.S. crude CLc1 rose 81 cents, or 1.6 percent,…

"Oil rises 2 percent, boosted by potential OPEC deal"

Saudi says ‘flexible’ on Russian idea to extend oil cuts to end-2018

MOSCOW – Saudi Arabia made no firm pledge on Thursday to extend a deal between OPEC, Russia and other producers on cutting supplies but said it was “flexible” regarding Moscow’s suggestion to prolong the pact until the end of 2018. Saudi Energy Minister Khalid al-Falih was speaking in a television interview a day after Russian President Vladimir Putin said the supply reduction deal that is due to expire in March could run to the end…

"Saudi says ‘flexible’ on Russian idea to extend oil cuts to end-2018"

Saudi Aramco IPO on track for 2018: officials

MOSCOW – A plan to list Saudi Aramco in 2018 is on track, senior Saudi officials said in Moscow on Thursday, as Saudi Arabia gears up to sign a string of investment agreements with Russia. The plan to float around 5 percent of Aramco in an initial public offering (IPO) is a centerpiece of Vision 2030, a wide-ranging reform plan to diversify the Saudi economy beyond oil which is being championed by Saudi Crown Prince…

"Saudi Aramco IPO on track for 2018: officials"

Saudi king heads to Russia, with oil, investment and Syria on agenda

RIYADH/MOSCOW – The leaders of Saudi Arabia and Russia, the world’s biggest oil exporters, are expected to discuss cooperation on oil production and differences over Syria and Iran on Thursday during the first visit to Moscow by a reigning Saudi Monarch. A slew of investment deals, including on a liquefied natural gas project and petrochemical plants, could also be signed during King Salman’s trip and plans for a $1-billion fund to invest in energy projects…

"Saudi king heads to Russia, with oil, investment and Syria on agenda"