oil exports

 
 

Opec offsets Iran oil loss, sees lower 2019 demand

LONDON, Dec 12 — Opec said today it had offset a drop in sanctions-hit Iranian oil exports and lowered the 2019 forecast of demand for its crude, underlining the challenge the producer group faces to prevent a glut even after last week’s…


If Iran can't export oil from Gulf, no other country can, Rouhani says

GENEVA, Dec 5 — Iranian President Hassan Rouhani made an apparent threat yesterday to disrupt other countries' oil shipments through the Gulf if Washington presses ahead with efforts to halt Iranian oil exports. The United States has imposed…


Iranian official says oil-for-goods deal planned with South Korea

DUBAI, Dec 1 — Iran and South Korea are working to set up a mechanism to barter South Korean goods for Iranian oil exports, an Iranian trade official was quoted as saying by the state news agency IRNA today, as Tehran seeks ways to sidestep US…


Malaysian palm oil hits over 3-year low on weaker crude prices

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 1.3 percent at 1,960 ringgit ($467.00) per tonne in the first-half session of trading. The futures contract hits its lowest since August 2015. In the previous session, palm climbed 0.7 percent after being oversold the week before. KUALA LUMPUR: Malaysian palm oil futures touched their lowest in more than three years on Wednesday, shedding gains from the previous session, as a plunge in crude oil prices dented sentiment. Palm oil prices are influenced by movements in crudeRead More


Upset by Trump’s Iran waivers, Saudis push for deep oil output cut

ABU DHABI, Nov 15 — When US President Donald Trump asked Saudi Arabia this summer to raise oil production to compensate for lower crude exports from Iran, Riyadh swiftly told Washington it would do so. But Saudi Arabia did not receive advance…


Risking Trump ire, Opec builds case for oil supply cut

LONDON, Nov 14 — Opec built a case yesterday for cutting oil output when it meets next month, warning that a supply glut could emerge in 2019 as the world economy slows and rivals increase production more quickly than expected. Worried by a drop…


Oil down 2pc after Trump urges Opec not to cut supply

LONDON, Nov 13 — Oil prices fell more than 2 per cent today after US President Donald Trump put pressure on Opec not to cut supply to prop up the market. Brent dropped US$1.97 (RM8.26) a barrel, or 2.8 per cent, to a low of US$68.15 and was…


US not concerned by Europe's idea for Iran trade as companies moving out

LONDON, Nov 13 — The United States is not too concerned by Europe's idea for a special purpose vehicle (SPV) to get around US sanctions with Iran as companies are already withdrawing from the country in droves, the senior official for financial…


Malaysia’s October palm oil stocks up 7.63pc

KUALA LUMPUR, Nov 12 — Malaysia’s total palm oil stocks in October 2018 rose 7.63 per cent to 2.72 million tonnes from 2.52 million tonnes in September. Crude palm oil (CPO) stocks increased 13.94 per cent to 1.61 million tonnes during the month…


Oil producers see oversupply, call for new strategies

ABU DHABI, Nov 12 — Major oil producers said yesterday that crude supply next year would outstrip demand, calling for new strategies based on production adjustments. Khalid al-Falih, Energy Minister of the world’s top supplier Saudi Arabia, said…