OPEC on Wednesday reported its oil production climbed in September to the highest in at least eight years
OPEC on Wednesday reported its oil production climbed in September to the highest in at least eight years
IEA said the oil price has risen by 15% since the announcement of OPEC's agreement to cut output on Sept 28
World oil demand to grow at a rate of 1.2 million bpd next year, IEA said
Dudley was speaking at the World Energy Congress in Istanbul
Goldman Sachs said that despite a production cut becoming a 'greater possibility', markets were unlikely to rebalance in 2017
Saudi Arabia's Energy Minister Khalid al-Falih said on Monday that OPEC should not cut oil supply too steeply
OPEC's second biggest producer Iraq said over the weekend that it wants to raise output further in 2017
Brent futures were down 20 cents, or 0.39 per cent, at $51.66 per barrel
There were also risks of forced supply disruptions, especially in North Africa, Nigeria, and Venezuela
International Brent crude futures were down 24 cents at $51.62 per barrel
Benchmark Brent crude was trading at $51.38 per barrel, up 51 cents, or 1.0 per cent
In international oil markets, benchmark Brent crude futures were trading at $51.29 per barrel, up 42 cents, or 0.8 per cent
In international oil markets, benchmark Brent crude futures were trading at $51.29 per barrel, up 42 cents, or 0.8 per cent
International Brent crude oil futures were trading at $50.79 per barrel
International benchmark Brent crude futures were trading at $50.25 per barrel
Also, doubts are that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut
OPEC agreed on Wednesday to cut output to 32.5-33.0 million bpd from around 33.5 million bpd
Oil prices extended gains after rising nearly 6% on Wednesday after OPEC struck a deal to limit crude output
Brent crude rose 12 cents to $46.09 a barrel