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Kuwait abides by OPEC decision to cut oil production

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Saudis said to cut oil production in line with OPEC agreement

Saudis said to cut oil production in line with OPEC agreement*/

– Saudi Arabia has cut its crude-oil production by at least 486,000 barrels a day since October, said a person familiar with the kingdom’s output, bringing the world’s largest exporter of petroleum swiftly into line with OPEC’s deal to raise prices.The news come as the group’s secretary-general said he would hold informal talks with the kingdom and six other oil producers next week to assess the implementation of the production agreement.Saudi Arabia agreed to cut its output by 486,000 barrels a day as part of an agreement struck by the Organization of the Petroleum Exporting Countries on Nov. 30 to reduce production by 1.2 million barrels a day.
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Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels – sources

Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels - sources*/

– A gas flare on an oil production platform in the Soroush oil fields is seen alongside an Iranian flag in the Persian Gulf, Iran, July 25, 2005.REUTERS/Raheb Homavandi/File PhotoLONDON Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.In the past three months, Tehran has sold almost half the oil it had held in floating storage, which had tied up many of its tankers as it struggled to offload stocks in an oversupplied global market.
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Kuwait abides by OPEC decision to cut oil production

Kuwait abides by OPEC decision to cut oil production*/

– Reduces oil production in January to around 2.707 million barrels per dayShare on Facebook Share on Twitter Share on Google+ Share on LinkedIn +Kuwait has reportedly reduced oil production in January to around 2.707 million barrels per day, Reuters reported, citing a Kuwaiti oil official on January 6.Kuwait has said it was committed to playing its part in an agreement reached by members of the Organization of Petroleum Exporting Countries (OPEC) to cut a collective 1.2 million barrels per day.The agreement, which is aimed to reduce the world oil glut and boost prices, took effect on January 1.
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Iran capitalises on OPEC oil cut to sell millions of barrelsAMEInfo

Iran capitalises on OPEC oil cut to sell millions of barrelsAMEInfo*/

– * Iran exempted from OPEC output cut agreement* Looks to push into new European markets* Tehran relies on tankers to park unsold oilIran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalising on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.In the past three months, Tehran has sold almost half the oil it had held in floating storage, which had tied up many of its tankers as it struggled to offload stocks in an oversupplied global market.The amount of Iranian oil held at sea has dropped to 16.4 million barrels, from 29.6 million barrels at the beginning of October, according to Thomson Reuters Oil Flows data.
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Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels – sources

Exclusive: Iran capitalizes on OPEC oil cut to sell millions of barrels - sources*/

– LONDON Iran has sold more than 13 million barrels of oil that it had long held on tankers at sea, capitalizing on an OPEC output cut deal from which it is exempted to regain market share and court new buyers, according to industry sources and data.In the past three months, Tehran has sold almost half the oil it had held in floating storage, which had tied up many of its tankers as it struggled to offload stocks in an oversupplied global market.The amount of Iranian oil held at sea has dropped to 16.4 million barrels, from 29.6 million barrels at the beginning of October, according to Thomson Reuters Oil Flows data.
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