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Middle East Crude Oil News

OPEC Production Cut May Need to Be Extended: Oil Ministers

OPEC Production Cut May Need to Be Extended: Oil Ministers

[ad_1] The oil ministers of Iran and Qatar have suggested that OPEC’s production cut agreement may have to be extended beyond the June deadline, despite an almost 100-percent compliance rate.The comments come a day after the American Petroleum Institute reported the second-largest crude oil inventory increase in history, at 14.227…

Too early to say if oil output deal should be extended, says Qatar energy minister

Too early to say if oil output deal should be extended, says Qatar energy minister

[ad_1] Higher oil prices may boost shale oil production but the global oil market can accommodate this as demand remains healthy, Qatar's energy minister said on Wednesday. "The market is gradually accommodating for shale oil as well as shale gas - the demand is healthy. With that continuous demand increase…

Italian Prosecutors Want Trial For Eni Over Alleged Corruption In Nigeria

Italian Prosecutors Want Trial For Eni Over Alleged Corruption In Nigeria

[ad_1] Italian prosecutors asked on Wednesday for Italian oil major Eni SpA (NYSE:E), its chief executive Claudio Descalzi, and 10 other people to be sent to trial over charges of alleged international corruption, according to judicial sources.According to Italian daily La Stampa, prosecutors in Milan asked today for trial for…

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