News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.
1 hr ago | Reuters
OPEC's oil production has risen in August from July, a Reuters survey found on Thursday, as a recovery in Libyan supply held up and Angola and Iran boosted supplies, outweighing a further decline in Iraq.
6 hrs ago | Al Bawaba
The economic outlook for Saudi Arabia remains favorable, with GDP growth expectations to stay above 4 percent in 2014 and 2015 Dun & Bradstreet South Asia Middle East Ltd in association with the National Commercial Bank released the D&B Business Optimism Index survey for Saudi Arabia for Q3, 2014.
An image made available on the jihadist website Welayat Salahuddin on June 11, 2014, shows ISIS militants posing with a jihadist flag after they allegedly seized an Iraqi army checkpoint in the northern Iraqi province of Salahuddin.
A U.S. congressman urged the Obama administration on Wednesday to block the proposed sale by Venezuela's state oil company of its North American refining unit Citgo, saying it would be against "vital national interests".
Oil field workers drill into the Gypsum Hills near Medicine Lodge, Kansas, using horizontal drilling and a technique known as hydraulic fracturing, or "fracking," to coax out oil and gas.
Aug. 27 will officially go down as a red letter day in the history of reserve currencies and dollar hegemony in how oil and gas are purchased throughout the world.
Indonesia's President Susilo Bambang Yudhoyono, right, greets President-elect Joko Widodo during their meeting in Bali, Aug. 27, 2014.
Algeria will launch a new five-year investment plan worth $262 billion to boost domestic production and move its economy away from reliance on oil and gas, the government said.
The decline in how much oil China needs is a reflection of a slowdown in its economy, analysis from Platts said Wednesday.
Vienna, Aug 27 The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries stood at $99.82 a barrel Tuesday, compared to $99.09 Monday, according to the OPEC Secretariat.
In recent months, the U.S. government has been flexing its economic muscle by imposing sanctions upon Russia and attempting to end the civil war in Ukraine by forcing Russia to relinquish claims to Crimea.
OPEC member Algeria plans to increase state spending by 16 percent in 2015, pushing up its deficit to 22 percent of gross domestic product, according to a draft budget, despite decling energy earnings.
Libya wants the international community to help protect its oilfields, airports and other state assets as it is too weak to stop armed groups fighting for control, its ambassador in Cairo said on Monday.
HOUSTON/CARACAS - Venezuela's shipments of crude oil and fuel to its allies have fallen to a five-year low as a weak economy hits its ability to uphold accords that former president Hugo Chvez struck to lower energy costs for friends and expand his diplomatic clout.
Vienna, Aug 25 The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries stood at $99.19 a barrel Friday, compared to $99.03 last Thursday, according to the OPEC Secretariat.
Updated: Thu Aug 28, 2014 07:35 am
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