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Saudi Arabia’s Energy Minister Khalid al-Falih has hinted that an agreement “to stabilize the market” could be reached at next month’s International Energy Forum. The ministerial meeting to be held on the sidelines of the Forum presents “an opportunity for Read more
Omani oil and gas minister Mohammad bin Hamd al-Rumhy said the government would not be participating in the International Energy Forum scheduled at the end of next month in Algeria because they are “disappointed by the (OPEC) group’s failure to Read more
“The oil market is oversupplied now but there are expectations that there will be balance between demand and supply in the market” Iranian oil minister Bijan Namdar Zanganeh told state TV amid reports of OPEC members increasing their total output Read more
Saudi Arabia’s Energy Minister Khalid Al-Falih stated that the Kingdom exercises responsible oil policies as he acknowledged that “despite the surplus in global oil production and lower prices, the focus of attention remains on countries such as Saudi Arabia which, Read more
Saudi Energy Minister Khalid al-Falih said Riyadh will not be increasing its oil output because “there is no reason to expect that Saudi Arabia is going to go on a flooding campaign” as he reassured that “we will be very Read more
The meeting between OPEC members and non-OPEC members in Qatar on freezing oil production levels based on the January data ended without any deal following Saudi Arabia’s stance that Iran must be present at the meeting before a deal could Read more
Some OPEC and non-OPEC members are reluctant to freeze their production at the January 2016 levels, although such a move will allow the oil market to recover gradually, said Algerian Energy Minister Salah Khebri Monday on the sidelines of a Read more
Hopes of an agreement between major oil producers to freeze production could be fading away after the Iranian oil minister Bijan Zanganeh said that exportation of the country’s oil and gas condensate has exceeded 2million barrels per day after daily Read more
Qatar’s ministry of energy and industry said the meeting between OPEC members and oil producing non-OPEC countries to be held in April is aimed at reaching “an agreement among producers on freezing their crude output at January levels in order Read more
Nigeria’ Muhammadu Buhari called for cooperation between oil producing countries, both OPEC and non-OPEC members, to stabilize the prices of oil in the global market. In a statement released by the Nigerian presidency Sunday, after a meeting between President Buhari Read more