By hellenicshippingnews Saudi Arabia is wrong to think that U.S. shale production won't respond to higher oil prices in 2017, according to Goldman Sachs Group Inc. While crude may rise to over $60 a barrel if OPEC members and other nations cut production as promised, a rebound in U.S. shale output would bring prices back […]

Latest oil pact is last hurrah, not return to past market power Read full story › Source:: FT.com Oil and Gas       

By hellenicshippingnews Russia's oil producers have started preparations to meet the nation's pledge to curb output as part of the “historic” pact between OPEC and 11 producers outside the group, Energy Minister Alexander Novak said. “The first stage of the cut we will see as soon as early January,” Novak said in a Bloomberg Television […]

Marina Petroleka, global head of industry at BMI Research, explains why oil prices will be stronger in 2017. Read full story › Source:: CNBC energy