Nations using oil ‘as a weapon’ causing damage to OPEC -Iran oil minister
Iran’s oil minister hit out on Wednesday against the use of oil sanctions “as a weapon” by the United States and the damage it was doing to OPEC, according to Continue Reading
Goal of June OPEC meeting to extend output cuts: Oman energy minister
The Organisation of the Petroleum Exporting Countries, Russia and other producers will be looking to extend their oil output cut agreement when they meet in June, Oman’s energy minister Mohammed Continue Reading
OPEC Oil Production Slips To 4-Year Low
Crude oil production from OPEC declined to the lowest in four years last month, a Reuters survey has suggested, largely because of the continued fall in Venezuelan output and lower Continue Reading
OPEC tries to depoliticize oil, secretary-general Barkindo says in Tehran
OPEC tries to depoliticize oil, the producer group’s secretary-general was quoted by the Iranian oil ministry as saying on Thursday, following accusations by Iran that the United States is using Continue Reading
Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”
In among the multitude of threats that Iran has made public since the US sanctions on Iran were levied, Iran has now heralded the collapse of OPEC, if OPEC members Continue Reading
OPEC+ working to avoid ‘any energy crisis’ with 2 members under sanctions: Barkindo
OPEC and other oil producers in the cuts pact are following developments in Venezuela and other countries to ensure an energy crisis is avoided, Secretary General Mohammed Barkindo said Thursday. Continue Reading
IMF Has Bad News For The Middle East And Oil Is To Blame
Heightened volatility in oil prices as well as political instability will combine to pressure economic growth in the Middle East, the International Monetary Fund warned in the latest edition of Continue Reading
OPEC oil output hits four-year low in April on Iran, Venezuela: Reuters survey
OPEC oil supply hit a four-year low in April, a Reuters survey found, due to further involuntary declines in sanctions-hit Iran and Venezuela and output restraint by top exporter Saudi Continue Reading
Will The Middle East Ever Lose Its Control Over Oil Markets?
It’s only been a few years ago, amid the ramp-up in U.S. shale oil production, that many thought the country would replace Saudi Arabia as global oil markets swing producer Continue Reading
Saudi’s Falih says global oil deal could be extended to end of 2019: RIA
A global deal on oil production led by Russia and Saudi Arabia could be extended to the end of 2019, Saudi Energy Minister Khalid al-Falih told RIA news agency on Continue Reading