crude oil to stabilise at 65 per barrel
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Crude oil to stabilise at $65 per barrel

Arab Today, arab today

Arab Today, arab today Crude oil to stabilise at $65 per barrel

Oil Production
Dubai - Arab Today

Oil will stabilise around $55 to $65 a barrel as OPEC fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, the Middle East head of Lukoil PJSC said.

Russia’s second-largest oil producer hasn’t had to reduce production in Iraq as a result of the curbs pledged by OPEC, Gati Al Jebouri said Monday in a Bloomberg television interview. Lukoil’s output in Iraq is about 400,000 barrels a day, he said. OPEC’s cutbacks have brought a period of stability to the market, he said. 

“We have a lid because of shale oil and we have a bottom because of the already proven decision and willingness of OPEC to maintain prices at a reasonable level,” Al-Jebouri said.

The Organisation of Petroleum Exporting Countries, working in concert with 11 other producers such as Russia, reached agreement last year to reduce output to clear a persistent oil glut and revive prices. Brent crude oil, a global benchmark, has rebounded about 20 per cent since OPEC decided at the end of November to restrict supplies for six months starting Jan. 1. Brent rose 0.8 per cent to $56.46 a barrel by 11:32 a.m. in Dubai.

Lukoil is seeking opportunities for growth in the Middle East as Iran opens more of its oil fields to international partners and other countries need technology to develop deposits, Al-Jebouri said. Lukoil is in talks with National Iranian Oil Co., the ArabianGulf country’s state producer, about the Ab Teymour and Mansouri oil fields in western Iran, he said.

The company is also interested to pump oil from offshore fields in Abu Dhabi and to produce heavy crude in Oman and Kuwait. Abu Dhabi, holder of most of the oil in the United Arab Emirates, is preparing to seek partners for the offshore fields by 2018, he said.

Source :Times Of Oman

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

crude oil to stabilise at 65 per barrel crude oil to stabilise at 65 per barrel

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

crude oil to stabilise at 65 per barrel crude oil to stabilise at 65 per barrel

 



GMT 16:52 2017 Tuesday ,21 February

Iraqi troops push into Daesh-held southern

GMT 10:50 2017 Tuesday ,05 December

Technip lands Bahrain refinery mega contract

GMT 08:12 2017 Monday ,10 April

Minister receives School Mini Olympics winners

GMT 13:15 2017 Thursday ,31 August

Al-Basher Arrives in the Holy Land

GMT 18:19 2017 Tuesday ,17 October

Producers' group moves to expel Weinstein

GMT 13:00 2015 Sunday ,18 October

DEWA participates in 11th Women’s Forum in France

GMT 15:48 2017 Wednesday ,22 February

GOIC Encourages Paper Industry in GCC States

GMT 02:41 2016 Tuesday ,08 November

US, Turkey COS held talks on Syria, Iraq

GMT 23:18 2017 Wednesday ,22 November

HRH Premier lauds Bahrain's ability to host major events

GMT 06:53 2017 Friday ,03 March

Ahly's former happy for CAF honoring

GMT 05:09 2017 Saturday ,25 February

Oprah Winfrey slated to address college graduates

GMT 23:47 2017 Monday ,13 November

Mohammed bin Rashid receives Italian Prime Minister

GMT 21:43 2016 Monday ,19 September

US airstrike allegedly kills 8 afghan policemen

GMT 18:29 2017 Monday ,11 September

British MPs to vote on bill to avoid 'chaotic' Brexit

GMT 10:41 2017 Sunday ,12 February

Quebec says 'No to Islamaphobia'

GMT 23:52 2017 Saturday ,09 September

France Says 26 French Hurt in Barcelona Attack
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday