Could Iraq Be The Next OPEC Member To Exit?
Even more cracks may be forming within OPEC, even as market pundits continue to analyze Qatar’s decision two days ago to withdraw from the oil producing cartel. Michael Cohen, head Continue Reading
Iran seeks exemption from OPEC oil cuts because of US sanctions: oil minister
Iran will seek an exemption from any OPEC production cut agreement, its oil minister said Wednesday, potentially complicating the group’s already fraught negotiations. “Iran should be excluded from any decision Continue Reading
Saudi-Russia Ties Raise Concerns Among OPEC Members
“They have to stop doing this,” one OPEC official said, referring to private talks between Russia and Saudi Arabia. “It’s not justice. The lives of entire populations are at stake.” Continue Reading
Pressure builds on Saudi oil minister at OPEC after Qatar snub
Shaken by Qatar’s surprise plan to drop out of the producer group, OPEC still needs to reassure a nervous oil market when it meets later this week. Responsibility for delivering Continue Reading
If Iran can’t export oil from Gulf, no other country can, Iran’s president says
Iranian President Hassan Rouhani made an apparent threat on Tuesday to disrupt other countries’ oil shipments through the Gulf if Washington presses ahead with efforts to halt Iranian oil exports. Continue Reading
Iran Threatens To Close Key Oil Choke Point
Here we go again: Iranian President Hassan Rouhani has once again threatened to close the Strait of Hormuz, which is vital to up to one-third of all global oil shipping Continue Reading
Iran Again Threatens To Block Key Oil Transit Choke Point As U.S. Aircraft Carrier En Route
Here we go again: Iranian President Hassan Rouhani has once more threatened to close the Strait of Hormuz , which is vital to up to one-third of all global oil Continue Reading
Iran: Oil To Fall To $40 If OPEC Fails To Reach Deal
A fractured OPEC is meeting later this week to discuss a deal to cut oil production—yet again—to rebalance the market and lift oil prices that have recently slipped to below Continue Reading
As Iran supply dries up, South Korea petrochemical firms find new, costly oil sources
SINGAPORE/SEOUL (Reuters) – With supply from major producer Iran uncertain, big condensate user South Korea is scouring the world for alternative sources of this key ingredient in its large chemical Continue Reading
November exports decline as global prices drop
Iraq’s revenues fell steeply, as the mid-month resumption of Kirkuk oil sales via Turkey was not enough to offset southern export disruptions and sinking oil prices. Nationwide exports fell by Continue Reading