Venezuela has proposed that non-OPEC oil producers attend the group’s June meeting in Vienna to continue “dialogue and coordination,” according to a letter from the South American country’s oil minister Continue Reading
Oil exporting countries in the Middle East lost a staggering $390 billion in revenue due to lower oil prices last year, and should brace for even deeper losses of more Continue Reading
The International Monetary Fund estimates the Middle East’s oil-dependent economies have missed out on $390 billion in oil revenues last year alone and face up to $150 billion in income Continue Reading
Economic growth in Gulf states is forecast to slow to 1.8 percent this year as the oil-dependent region cuts spending to battle fiscal deficits reaching 11.6 percent of gross domestic Continue Reading
Oil-producing nations will discuss an oil output freeze at OPEC’s meeting in June, a senior Saudi oil advisor said on Thursday, keeping open the prospect of action to boost prices Continue Reading
International Energy Agency’s (IEA) Executive Director Fatih Birol speaks at a news conference on the sidelines of G20 Energy Ministers Meeting in Istanbul, Turkey, October 2, 2015. International Energy Agency Continue Reading
OPEC Secretary-General Abdullah El-Badri attends a news conference after the EU-OPEC Energy Dialog in Vienna June 27, 2011. The oil market will begin rebalancing by the third quarter of this Continue Reading
All charts are updated through March 2016 The latest OPEC Monthly Oil Market Report is out out. The charts are “Crude Only” production and do not reflect condensate production. Also Continue Reading
Major OPEC and other crude producers will meet in Russia, possibly next month, in a new push to agree on an output freeze to shore up oil prices, Iraq’s Deputy Continue Reading
Russian Energy Minister Alexander Novak told news agencies Wednesday that he wasn’t sure oil-producing countries would be able to reach a deal to freeze production, but that the need to Continue Reading
