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Thursday 3 July 2025
Last Updated : GMT 09:40:38
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Essam al-Marzouk

Oil producers may not need to extend cuts

Themuslimchronicle, themuslimchronicleOil producers may not need to extend cuts279923/83
Kuwait City - Muslimchronicle
Oil producers may not need to roll over a deal to cut production beyond March if all members fully comply with their pledges, the Kuwaiti oil minister said Sunday. "The current reduction deal is sufficient to achieve the desired purpose," of rebalancing the oil market, Essam al-Marzouk told reporters after opening an oil conference. Related Searches Oil Pulling With CoconutRead more

Oil price to stay at $50-$55 a barrel

Themuslimchronicle, themuslimchronicleOil price to stay at $50-$55 a barrel274598/394
Kuwait City - Muslimchronicle
Kuwaiti Oil Minister Essam al-Marzouk has said he expects oil prices to stay between $50 and $55 a barrel and that the market will rebalance by the end of the year. Marzouk, who heads an oil producers' committee that monitors compliance to output cuts, told Kuwait's Al-Rai newspaper in an interview published Wednesday that "demand for oil will pick upRead more

Saudi says 'committed' to oil market stability

Themuslimchronicle, themuslimchronicleSaudi says 'committed' to oil market stability251657/244
Riyadh - AFP
Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world's biggest oil exporter said on Tuesday, as prices fell below $48 a barrel. OPEC and non-OPEC countries last year pledged to reduce output by around 1.8 million barrels per day (bpd) as part of a concerted effort to curb a global oil glut. SaudiRead more

OPEC output cuts exceed target

Themuslimchronicle, themuslimchronicleOPEC output cuts exceed target248975/83
Kuwait City - Arab Today
OPEC compliance with oil output reductions has exceeded the target because of higher Saudi cuts, Kuwaiti Oil Minister Essam al-Marzouk, head of a committee overseeing the decreases, said Wednesday. Non-OPEC compliance, however, has so far been modest, the minister told reporters outside parliament. Under a deal signed last year, OPEC and non-OPEC countries agreed to reduce output by around 1.8Read more

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