MENA ///

OPEC aims for modest output hike to overcome Iran's dissent

OPEC is discussing a production increase before its meeting in Vienna in an attempt to bridge the gap between Russia’s push for a big rise and Iran’s insistence that no change is needed.

Iran says three OPEC members to veto Saudi-proposed supply boost

Iran says Venezuela and Iraq will join it in blocking a proposal to increase oil production that’s backed by Saudi Arabia and Russia when OPEC and its allies meet in Vienna this week.

Oil trades near $67 as Saudi Arabia sees "inevitable" supply boost

Oil steadied just below $67/bbl as Saudi Arabia’s energy minister said an OPEC agreement to raise production is “inevitable.”

Iran sees OPEC sticking to supply limits as no need for more oil

OPEC nation Iran said it expects the group to stick with its pact to restrain oil supply as world markets don’t need more crude.

Saudis are said to float range of ideas for higher OPEC output

Saudi Arabia has proposed several crude output hike plans to OPEC members, including one with a two-step increase, as the kingdom seeks ways to narrow differences with Russia and the rest of the cartel.

IEA says Iran, Venezuela oil output could slump by almost 30%

Iran and Venezuela could lose almost 30% of their oil output next year due to U.S. sanctions and economic upheaval, requiring extra supplies from OPEC's Gulf members.

Russia is said to seek full cuts rollback for most of OPEC

Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels, rolling back most of their output cuts within three months.

OPEC likely to agree to a production increase next week

OPEC will probably overcome internal disputes to agree on a production increase next week to temper rallying prices.

MENA Supply: Robust performance amid tense geopolitical environments

The Arab Petroleum Investments Corporation (APICORP), the multi-lateral development bank focused on the energy sector, published its latest research report, which focuses on the performance of the different countries in the MENA region’s oil supply, in the context of regional geopolitics.

Oil trades near $66 as OPEC split deepens over production boost

Oil traded near $66/bbl as producing countries disagreed over relaxing output curbs and OPEC highlighted the uncertainty over the strength of demand later this year.

OPEC highlights oil demand uncertainty before crucial meeting

OPEC emphasized the deep uncertainty over the strength of demand for its oil just a week before contentious talks on whether to raise production.

Saudi oil output said to rise above 10 MMbpd

Saudi Arabia boosted daily oil output in May to the highest level since October, ahead of meetings with Russia and other global producers next week where they may propose raising production even further and phasing out 18 months of voluntary cuts.

OPEC resistance to Saudi supply plan grows with Iraqi defiance

Iraq said OPEC should resist pressure to increase oil supplies, strengthening opposition to plans by Saudi Arabia as the group prepares to meet next week.

Iran ships first crude to Chile in years as other buyers dither

An oil tanker hauling Iranian crude is making the first delivery to Chile in at least 16 years, a sign the Persian Gulf country may be seeking out new customers for its oil in the face of renewed U.S. sanctions.

Iran deal teeters as Europe seeks exemption from U.S. sanctions

The European Union asked for exemptions from expected U.S. sanctions on Iran and the bloc’s lending arm balked at supporting Iranian projects, signs of the mounting difficulties in meeting a political pledge to stick with the landmark nuclear deal.

Aqualis Offshore completes jacket installation in Bahrain

Marine and offshore engineering consultancy Aqualis Offshore has completed the offshore installation engineering of an 1800T steel jacket structure offshore Bahrain as part of the Bahrain LNG Import Terminal.

Oman Oil said to seek buyers for stake in Khazzan gas field

Oman Oil Co. is planning to sell a 10% stake in a key natural gas field in the sultanate amid a review of the state-owned energy producer’s options for restructuring its business, according to people with knowledge of the matter.

India vows to ignore Trump's sanctions and continue Iran imports

President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers -- and a strategic partner of the U.S. -- plans on ignoring them.

Saudi Aramco awards contract for unconventional resources project to Halliburton

Halliburton has announced the signing of the Unconventional Gas Stimulation Services contract with Saudi Aramco to further improve the economics of Saudi Aramco’s unconventional resources program.

Saudis signal oil output boost, offering relief to consumers

OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80/bbl, said Saudi Energy Minister Khalid Al-Falih.