Saudi Energy Minister: Country committed to oil market stability
Saudi Arabia has said it will take all necessary measures to prevent supply shortages following the US withdrawal from the Iran nuclear deal. “The Kingdom…
OPEC countries
Iraq Approves Oil Production Capacity Boost
Baghdad has approved an increase in Iraq’s crude oil production capacity to as much as 6.5 million bpd by 2022. This compares to a current production capacity…
Iraq supports OPEC-led oil output cuts, president says
BAGHDAD (Reuters) – Iraq supports OPEC’s agreement to cut oil output, Iraqi President Fuad Masum said at a meeting on Monday with OPEC Secretary-General Mohammad…
Iraq Is Troubling The Oil Majors
Shell decides to pull the plug on Iraq. A day later, Chevron announces its return to Iraq. The oil majors are heading in opposite directions…
UAE energy minister says not concerned with current oil price
The UAE’s Energy Minister Suhail al-Mazrouei said on Thursday he was not concerned with the current oil price. “We are not panicking or see any…
How OPEC can kill US shale
One commodity analyst got it right: the OPEC cuts would not work. After November last year when the oil cartel announced its agreement with Russia…
OPEC supplies rise again and brent oil remains below $50
Brent crude oil remained below $50 per barrel on Wednesday, weighed down by another rise in OPEC supplies despite a pledge to cut production, but…
Offshore boom will break OPEC deal
While all eyes are riveted on how much U.S. shale output is undermining OPEC’s production cuts and any oil price gains, other non-OPEC producers are…
Oil prices rise up 2 % but oversupply concerns remain
Oil prices rose again boosted by a weaker dollar but worries over an ongoing supply glut capped gains. According to Reuters, Brent crude futures had…
OPEC is bewildered as the oil market reshapes
It may be too soon to write Organization of the Petroleum Exporting Countries (OPEC)’s obituary, but the oil producer club appears in urgent need of…