Middle East

Middle East

OPEC’s output freeze: What has changed since Doha?

24/08/2016

It's possible that OPEC is crying wolf with hints of an output freeze next month in Algiers; but it's also possible that they are ramping up production to take the sting out of a freeze. This is a delicate balancing act that the Saudis need to play very carefully.

Middle East

Saudis ramping up oil Output to gain leverage in OPEC talks

19/08/2016

Saudi Arabia suggests it may be increasing its August crude output to a new all-time high as it could give it more leverage to influence the September informal talks on a possible production freeze, Reuters reported on Wednesday, citing industry sources.

Middle East

Gulf Marine Services inks new vessel supply deals for Middle East, North Africa clients

05/08/2016

London-listed Gulf Marine Services (GMS) said today it had struck a new deal to supply one of its mid-size vessels to an unspecified oil company based in the Middle East and North Africa (MENA) region. GMS, an offshore vessel contractor founded in Abu Dhabi in 1977, said the agreement had kicked in immediately and would run for one year. The company, whose fleet currently comprises 14 vessels, also said another client in the same region had extended its lease on a small class vessel by a further year.

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