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Oil treads water as OPEC prolongs decision to extend, deepen output cuts

Oil barely moved after an OPEC gathering concluded with no decision on an extension or deepening of supply cuts.

Oil near $50 as traders gauge OPEC's mixed signals

Oil hovered close to $50 a barrel amid conflicting signals from OPEC ministers about whether an extension of supply limits is on the table for the cartel’s meeting on Friday.

OPEC keeps oil market guessing over further production cuts

Ministers from OPEC and its allies look set to keep everyone waiting longer for confirmation of further action to rebalance the oil market, sending conflicting signals on whether they’ll discuss extending or deepening supply cuts in Vienna on Friday.

Kuwait GDP seen contracting 0.5% in 2017 after oil output cut

Economists now see Kuwait’s economy contracting by 0.5 percent this year after the gulf nation reduced its crude oil production to 2.7 MMbpd, in line with the agreed OPEC target.

Iraq's Kurds seek independence, impact oil markets

Iraq’s Kurdish provinces plan to vote in a referendum on independence on Sept. 25, a poll that regional and Western powers, not to mention the central government in Baghdad, have decried as a catalyst for greater instability in a region gutted by war.

Gazprom Neft undertakes its largest-ever maritime oil shipment

Gazprom Neft Badra, operator of Badra field, Iraq, has undertaken the largest-ever maritime shipment of oil for export in the company’s history, with 1.78 MMbbl of hydrocarbons being despatched for the United States in the New Solution crude oil tanker.

Gas Plus Khalakan provides operational update on Shewashan field in Iraq

Gas Plus Khalakan (GPK), the operator of the Shewashan oil field in the Kurdistan region of Iraq, is pleased to provide an update on the operations and activity that has been delivered to further develop the Shewashan oil field.

OPEC has success at last, but oil revival may be short-lived

When OPEC and its allies gather this week, they’ll have the best evidence yet that their efforts to clear a global oil glut are succeeding. It may prove short-lived.

Rosneft to finalize pipeline project in Iraqi Kurdistan

Rosneft has completed its due diligence on infrastructure of the export oil pipeline in Iraqi Kurdistan (KROP) and will shortly finalize the legally binding documents on oil pipeline project under the Investment Agreement signed at St. Petersburg International Economic Forum in June 2017.

Lebanon passes oil tax law ahead of first energy-rights auction

Lebanon’s parliament approved a law to tax revenue from oil operations, weeks before its first sale of offshore energy exploration rights to interested companies like Total SA and ExxonMobil Corp.

Kuwait says OPEC to decide on extending cuts in March 2018

Kuwait says OPEC to decide on extending cuts in March 2018

Qatar says it's fulfilling oil and gas deals despite Gulf crisis

Qatar, the world’s largest exporter of liquefied natural gas, is fulfilling all of its contracted shipments of oil and gas despite a regional political crisis that led to the severing of ties with some of its neighbors, the Gulf country’s energy minister said.

OPEC increases global oil demand forecasts on Europe, China

OPEC raised estimates for the amount of crude it will need to supply next year amid a stronger outlook for global oil demand.

OPEC is said to discuss extending cuts by more than three months

OPEC is discussing extending by more than three months the oil production cuts that expire in March 2018 in an effort to boost prices.

Saudi Arabia open to another OPEC cuts extension

Saudi Arabian Energy Minister Khalid Al-Falih agreed with his Venezuelan and Kazakh counterparts to keep all options open in their push to re-balance world oil markets, including the possible extension of output cuts beyond next March.

DNO joins ExxonMobil on Baeshiqa license in Kurdistan region of Iraq

DNO ASA, the Norwegian oil and gas operator, today announced an agreement with ExxonMobil to join the Baeshiqa license in the Kurdistan region of Iraq.

Libya's biggest oil field is said to resume pumping crude

Libya’s largest oil field resumed production after a halt of more than two weeks, putting pressure on OPEC and other producers seeking to rein in a global supply glut and firm up prices.

Total divests remaining 15% interest in Gina Krog field in Norway, sells to Kuwaiti company

Total has signed an agreement to divest its remaining 15% interest in the Gina Krog field in Norway to Kuwait Foreign Petroleum Exploration Company (KUFPEC).

Russia likely to back extension of OPEC deal as prices stabilize

Russia is likely to back a further extension of the OPEC agreement cutting oil output, judging that it has helped to stabilize the market, the country’s deputy prime minister said.

Iraq says it's gone deeper than pledged OPEC production cut

Iraq said it has gone deeper than its pledged oil-output cut, potentially ending a seven-month period in which OPEC saw the nation falling short of its agreed curbs.