Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi- Opec agrees to maintain oil output ceiling  Join our daily free Newsletter

MENAFN - Khaleej Times - 12/06/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The organisation of petroleum exporting countries or opec has agreed to maintain its oil production ceiling at 30 million barrels per day venezuelan energy minister rafael ramirez said on wednesday after the group met in vienna.

asked whether ministers had decided to leave the output target unchanged ramirez replied: “yes i confirm.”

saudi arabia the group’s most influential player and biggest producer added that it was “very happy” with the state of the global oil market .

“how many times did i already tell you? i am very happy with the market” ali al naimi saudi arabia’s oil minister told reporters upon his exit from the gathering at the opec’s vienna headquarters.

the opec which accounts for one-third of the world’s oil has held its daily production ceiling at 30 million barrels since december 2011.

in the run-up to the ministerial gathering more than half of the opec’s dozen member nations indicated that there would likely be a rollover of the collective output target.

ramirez indicated earlier on tuesday that the cartel had reached a consensus for no change before formally agreeing to the decision.

al naimi had already expressed satisfaction with the state of the oil market stressing that it was stable and balanced.

“everything is in good order supply is good demand is good price is good” he said on tuesday.

brent north sea crude for delivery in july rose 45¢ to stand at 109.97 a barrel in london midday deals. us main contract west texas intermediate for july gained 16¢ to 104.51.


 


Khaleej Times




  MENA News Headlines
 Feb 9 2016 - Children's drawings help Unicef improve education in underprivileged areasDaily News Egypt
(MENAFN - Daily News Egypt) When eight-year-old Salma was practising her favourite hobby, drawing a little bird, she never imagined it would turn into a real toy for children worldwide, and a ...

 Feb 9 2016 - Egypt Year in Review 2015Daily News Egypt
(MENAFN - Daily News Egypt) The year 2015 brought welcome stabilisation and recovery to Egypt, after a difficult post-revolutionary period marked by continued upheaval and sluggish growth.The first ...

 Feb 9 2016 - Iran's litmus test: sports and air transportDaily News Egypt
(MENAFN - Daily News Egypt) Sports and air transport are likely to serve as indicators of whether Iran has the flexibility to become a major node in an increasingly globalised world. The country's ...

 Feb 9 2016 - We will not put depositors' money at risk by investing in stock market: BanksDaily News Egypt
(MENAFN - Daily News Egypt) Banks confirmed that they would not put depositors' money entrusted to them at risk by investing it in the stock market despite the current attractive stock prices, ...

 Feb 9 2016 - NILEX lacks visionDaily News Egypt
(MENAFN - Daily News Egypt) A number of capital market experts and managers of small and medium-sized enterprises (SMEs) registered in Nile Exchange (NILEX) said that NILEX still lacks governmental ...

 Feb 9 2016 - Enforcement of Movable Guarantees Law tops EFSA's agenda for 2016Daily News Egypt
(MENAFN - Daily News Egypt) Three issues dominate the Egyptian Financial Supervisory Authority's (EFSA) agenda in 2016; at the top of which is drafting of the executive regulations of the Movable ...

 Feb 9 2016 - HC Securities Executive expects further decline in stock pricesDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Exchange (EGX) has been suffering significant drops since the beginning of 2016. During the first month, the benchmark index EGX-30 declined 14.46% from 7,006 ...

 Feb 9 2016 - IT Companies face regulatory intransigencies in registering at NILEXDaily News Egypt
(MENAFN - Daily News Egypt) A number of capital market experts agreed that small and medium IT companies face obstacles in entering the Nile Stock Exchange (NILEX) because they do not possess ...

 Feb 9 2016 - ECMA to discuss alternatives to aid brokerage firms next week: ChairmanDaily News Egypt
(MENAFN - Daily News Egypt) The Egyptian Capital Market Association (ECMA) will hold a meeting next week to discuss support mechanisms to brokerages which are suffering severe shortage in revenues, ...

 Feb 9 2016 - MPs, families demand that Egyptian government search for missing fishermen in SudanDaily News Egypt
(MENAFN - Daily News Egypt) MP Ghada Sakr from Damietta demanded on Sunday that President Abdel Fattah Al-Sisi and the Ministry Defence send a military plane to search for the Egyptian fishermen that ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help