Kuwait wants OPEC to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market as the rally that boosted prices initially on the curbs has faded.
It’s too early for the Organization of Petroleum Exporting Countries to agree on an extension, Kuwait’s Oil Minister Issam Almarzooq said, according to official news agency Kuna. Iraq and Angola, two other OPEC members, have signaled a willingness to back cuts beyond the first half of this year.
“Kuwait supports the extension of the agreement after June,” Almarzooq said. An extension will ‘‘accelerate the rebalancing of the global oil market and will contribute to the return of prices to levels acceptable for producing countries and for the petroleum industry in general.”
OPEC and 11 other major producers agreed last year to slash production, spurring a 20 percent increase in Brent oil prices during the last five weeks of 2016. The rally stalled this year as U.S. output and supplies continued to grow. Brent crude, a global benchmark, has declined 9.4 percent this year.
Something interesting to share?
Join NrgEdge and create your own NrgBuzz today
ParamountEnterprises with a renowned brand .PARENTNashik is an ISO 9001:2015 certified company, listed in major leading manufacturers, suppliers & exporters of resistance spot welding consumables, spares, weldparts in Nashik – India.
PARENTNashikis younger energetic, with highly skilled engineering group having extensive more than 2-decade experience in resistance spot welding supplies and installed latest technology machining facility at works, manufacturing all sorts of resistance gun spot welding spares &consumables.
Product know-how more than 20 years of experience in resistance spot welding
Design, optimization & production of special spares, parts
Products that meet all international quality standards & requirements.
Productionline having next-generation CNC machinery.
Express production service available
Resistance Welding Consumables &Spot Welding Gun Spare WeldParts Offered:-
Spot welding electrodes,cap tips, bend electrodes, double bend electrodes, shanks, holders,gun arms dully insulation coating, adapters,flexible shunt,braided cables, water cooled kickless cables, jumper aid cables,bracket in aluminium & copper, gyro ring rotational assly.,electrical busbar, busbar 3D, swivel pad electrodes, projection welding electrodes,nut welding electrodes, nut welding pins, ceramic pins, insulating bush, elkonite faced electrodes, projection welding electrode caps,seam welding wheels, shaft, silver contacts, bush, housing body,conductive grease, restoration of seam welding housing frame, robotic welding shank, robotic holders, robot welding cables, on-line &Offline Gun Arm Insulation coating, BS807 electrode tips flat,centre, offset, angle offset, cranked, spade, jobbing, reducing adapters, straight stem holders, threaded adapters, ISO adapters, nut welding bodies, nut weld pins, nut welding caps, ISO electrode tips,PSA style electrodes. Copper Chromium Zirconium, Beryllium Copper,Nickel silicon Copper Chromium, RWMA Class-2,Class-3,C-18150,C17510,C17500 Copper alloy, rods, flats, bars, Threaded electrodes,composite electrodes, Male electrodes, offset electrodes, single crank electrodes, double bend electrodes, swivel electrodes, cap adapters, reducing adaptors, double bend cap adaptors, Merituselectrodes, tool post, water connections, water tubes, horizontal adaptors, horizontal toolpost holderBloster, Horseshoe adaptors,Machine arm, plattern, Projection weld nut assemblies, ceramic coated sleeves for stud welding, stud electrode, solid ceramic bush, stud electrode elkonite faced, projection welding bodies, copper tungsten faced electrodes, insulated nut electrodes, ½”screwed electrodes,pad bolt, short tool post.
.PARENTNashikalso offers variety of unique refractory metals for resistance spot-welding like Elkonite- Tungsten, Tungsten copper, molybdenum,graphite, TZM tipped electrodes.
Presentlysatisfied customers are in India, Malaysia, Middle East, Europe-France, Spain, Italy, and USA.
Headline crude prices for the week beginning 16 September 2019 – Brent: US$69/b; WTI: US$63/b
Headlines of the week