Oil Prices Under Fire From Rogue OPEC Members
Oil is retracing for a second day, as OPEC’s monthly oil report showed the cartel’s production rising last month. As markets mentally limber up for the double whammy of weekly Continue Reading
Looking Ahead: Industry Execs Express Concerns Over Oil Supply Shortages
While OPEC and other big crude producers work towards a deal to cap production to erode a glut, industry executives are concerned the sharp drop in investment that followed the Continue Reading
OPEC says it raises oil output, despite deal to cut
OPEC reported an increase in its oil production in September to a multi-year high and raised its forecast for 2017 non-OPEC supply growth, pointing to a larger surplus in the Continue Reading
OPEC-Russia Roadshow Heads to Vienna for Key Oil-Cuts Talks
OPEC’s effort to secure cooperation of non-members in a global deal to curb crude output will roll on from Istanbul to Vienna, with Russia on board but growing internal differences Continue Reading
Libya’s Oil Production Set to Reach Three-Year High by December
Libya’s oil production is set to reach a three-year high by December as fields restart and ports reopen after five years of armed conflict crippled sales. Output is now 540,000 Continue Reading
OPEC Faces Half-Million-Barrel Dispute With Members on Cuts
Latest OPEC report shows wide discrepancy in output figures Iraq, Venezuela question estimates from ‘secondary sources’ The scale of the internal differences OPEC must resolve before securing a deal to Continue Reading
OPEC data show a cut is necessary to meet Algerian proposal
A production cut from members of the Organization of Petroleum Exporting Countries would be needed to meet an Algerian proposal, OPEC’s monthly report found. OPEC said in its monthly market Continue Reading
Expect more from Iraq, oil company says
Norwegian energy company DNO said completing new wells in the Kurdish north of Iraq should boost its overall production by about 10 percent. Photo by Maryam Rahmanian/UPI OSLO, Norway, Oct. Continue Reading
Iraq Ramping Up Oil Output To New Heights
Oil storage facilities Iraq’s oil output in Kurdistan is set to increase when Norway’s DNO completes its plans to add four new wells in the Tawke field. The company has Continue Reading
Iran Is Stuck With China to Finance Its Oil Dreams
Efforts to nudge Iran toward the West stymied by U.S. policies Chinese companies continue to dominate energy, oil in Iran Amid the snake-infested marshlands on Iran’s border with Iraq, the Continue Reading