The rebound next year will be slightly better, however, with an increase of 5.8 mbpd, up from last month's 5.5 mbpd.

March production figures mean Saudi would be voluntarily cutting output by more than 500,000 bpd below its pledged production level.

Saudi Arabia and Russia had already upped production ahead of Opec meeting.

While the near term trend still remains positive, oil prices could see some correction.

Opec output also continues to be lower in YoY comparisons and compliance is improving.

Opec’s output rose to 2017 high of 33 mbpd in July -- its third consecutive jump this year.

The market has moved from extreme pessimism at the month's start to cautious optimism at end.

The upside for crude will remain capped given that physical markets remain oversupplied.

Iil production in the US may plateau in the near term and help prices see a modest recovery.

Frustration about the slow pace of market re-balancing will continue to weigh on oil prices.

Market pressures that slashed the price of oil to below $50 per barrel appear to be easing, the OPEC oil cartel said Monday.

The global supply of oil fell, inventories eased even as crude oil prices dropped under the weight of renewed pessimism for global economic...

After staying range-bound for over a year, global crude oil prices appear to have broken a key resistance level and headed northwards.

After staying range-bound for over a year, global crude oil prices appear to have broken a key resistance level and headed northwards.

Organization of Petroleum Exporting Countries (OPEC) members may have to cut production in 2010 as well, similar to what they did in 2009.

The International Energy Agency, an advisor to the oil consuming nations, has lowered its forecast for world oil demand for the period 2010...

Global crude oil prices will remain volatile in the near term but may fall to $53 a barrel by 2008 as new production facilities become oper...