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OPEC News

News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.

4 hrs ago | ICIS Chemical Business Americas

Commentary: Poor demand hurts Q4

Some chemical markets in Europe and Asia are suffering as poor downstream demand, coupled with ample or excess supply, hits the supply chain. As we enter the fourth quarter of the year, Asia's economic growth prospects look more hesitant.

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Related Topix: World News

20 hrs ago | Arab Times

Global oil prices slump as dollar 'strengthens'

Commodity prices dropped this week as the dollar strengthened, with Brent oil sinking to its lowest level in more than two years against a backdrop of solid supplies and sluggish demand. Sugar futures meanwhile touched multi-year lows, weighed down by expectations of a large surplus of supplies.

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Related Topix: World News

Sat Sep 13, 2014

Al Bawaba

The pendulum is swinging? Falling oil prices shifts energy balance in favor of the West

For now, however, the US-led surge in supply and weak demand have seen traders start to store additional barrels as they wait for prices to recover. The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran.

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Trend

Iran's oil exports stands at 1.2 million barrels, official says

When the current administration took the office, Tehran's oil exports dropped to 700,000-800,000 barrels from the previous figure of 1.3 million barrels, Iran's Fars news agency quoted an unnamed source at the country's Oil Ministry as saying. Iran's oil exports slipped for a second month in July, yet sales remained above the limit set by the West under an interim deal aimed at curbing Iran's nuclear program, according to sources who track tanker shipments, Reuters reported on August 6. Iran and six world powers, known as the P5+1, agreed to extend nuclear talks by four months after they failed to reach a July 20 deadline for a permanent resolution.

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American Thinker

The utter failure of our political class to respond to mortal danger

Nations are much like living organisms. One fundamental function of life is to tell the difference between friends and foes.

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Related Topix: Prison, World News

Newkerala.com

OPEC daily basket price closes at two-year low

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries slid to $95.35 a barrel Thursday, compared to $95.93 a barrel Wednesday, the OPEC Secretariat said. It was the lowest closing price since July 2012.

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Fri Sep 12, 2014

The Motley Fool

No Rebound in Sight for Sliding Oil Prices

This article was written by Oilprice.com , the leading provider of energy news in the world. Also check out these recent articles: Global oil prices have slid in recent weeks, a trend that shows no signs of changing in the immediate future.

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Related Topix: World News, Middle East, Saudi Arabia

WJRT

US, EU levy sanctions on Russia despite cease-fire

Unsatisfied with a fragile cease-fire in Ukraine, the United States and the European Union levied new sanctions Friday against major Russian banks and defense companies, as well as penalties aimed at curtailing Russia's ability to develop oil and gas projects. But the restrictions on Russia's energy sector were carefully crafted to avoid impacting the country's current production of oil and gas, a move that would raise global energy prices at time of weak economic growth.

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Related Topix: World News, Vladimir Putin, Exxon Mobil, Energy, Oil & Gas

The Beaumont Enterprise

US, EU levy sanctions on Russia despite cease-fire

In this March 4, 2014 file photo, a monument to Ukrainian poet and writer Taras Shevchenko is silhouetted against an apartment building with a sign advertising Russia's natural gas giant Gazprom, in Moscow, Russia.

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Related Topix: World News, Russia, Vladimir Putin, Exxon Mobil, Energy, Oil & Gas

Reuters

Falling oil price tilts political, economic balance in U.S. favor

The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran. But as rising supplies of North American crude and tepid demand have pushed prices LCOc1 below $100 a barrel, the move underlies how the shale oil revolution is creating a political and economic advantage for Washington and its Western allies.

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Related Topix: Prison, World News

News Max

Falling Oil Price Tilts Political, Economic Balance in US Favor

The drop in oil prices to their lowest in two years has caught many observers off guard, coming against a backdrop of the worst violence in Iraq this decade, heightened tensions between the West and Russia, and sanctions against Iran. But as rising supplies of North American crude and tepid demand have pushed prices below $100 a barrel, the move underlies how the shale oil revolution is creating a political and economic advantage for Washington and its Western allies.

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Related Topix: Prison, World News

MarketWatch

Futures Movers: Oil mixed; Brent on track for 2% weekly loss

Oil futures put in a mixed performance Friday, with Brent futures continuing to drop as traders take their cues from a strengthening dollar and forecasts for weak global demand growth. rose 16 cents, or 0.2%, to $92.99 a barrel on Nymex.

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Samoa News

Gasoline prices in Samoa increase

It follows the announcement by the Minister of Finance; Faumuina Tiatia Liuga at the beginning of the week about the new retail prices for petroleum products. The Minister announced an increase in the price of petrol by 3.33 sene from $2.93 to $2.97 per litre.

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Thu Sep 11, 2014

Marine News

Oil Demand Growth Slowing at 'Remarkable' Pace

World oil demand growth is softening at a remarkable pace as the European and Chinese economies falter, the West's energy watchdog said on Thursday, while supplies grow steadily, particularly from North America. "The recent slowdown in demand growth is nothing short of remarkable," the International Energy Agency said in its monthly report, revising down its oil demand growth projections for both 2014 and 2015.

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The Washington Post

WTI Oil Trades Near 8-Month Low on Adequate Supply; Brent Steady

West Texas Intermediate traded near an eight-month low amid speculation that rising U.S. crude output will add to excess supply in the world's biggest oil consumer. Brent was steady in London.

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Related Topix: World News, Science / Technology

Seeking Alpha

The Dollar Avalanche And Methods To Protect Your Portfolio

In conclusion: As far as the avalanche of the "Bernanke dollar," the only question seems to be when that final snowflake will hit, if it hasn't already. James Rickards, in The Death of Money: The Coming Collapse of the International Monetary System , writes about how "an avalanche is an apt metaphor for financial collapse," and how "an avalanche starts with a snowflake that perturbs other snowflakes, which, as momentum builds, tumble out of control" .

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WLOX-TV Biloxi

US, Arab allies committed to fighting IS militants

Key Arab allies of the U.S. agreed Thursday to "do their share" to fight against the Islamic State group, promising to take action to stop the flow of fighters and funding to the militants and possibly to join military action. The announcement came after U.S. Secretary of State John Kerry met with regional counterparts in the Saudi Red Sea coastal city of Jiddah in an effort to pin down Middle Eastern allies on what support they are willing to give to the U.S. plan to beat back the Islamic State group, which has seized large swaths of Iraq and Syria.

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Related Topix: Terrorism

ABC News

US, Arab Allies Committed to Fighting IS Militants

U.S. Secretary of State John Kerry, third right, speaks with Joseph W. Westphal U.S. Ambassador to Saudi Arabia, right, and Saudi Foreign Minister Prince Saud al-Faisal, second right, upon his arrival at the Royal Terminal of the King Abdulaziz International Airport in Jiddah, Saudi Arabia, Thursday, Sept. 11, 2014.

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Related Topix: Terrorism

Stars and Stripes

US, Arab allies committed to fighting Islamic State militants

Key Arab allies of the U.S. agreed Thursday to "do their share" to fight against the Islamic State group, promising to take action to stop the flow of fighters and funding to the militants and possibly to join military action. The announcement came after U.S. Secretary of State John Kerry met with regional counterparts in the Saudi Red Sea coastal city of Jiddah in an effort to pin down Middle Eastern allies on what support they are willing to give to the U.S. plan to beat back the Islamic State group, which has seized large swaths of Iraq and Syria.

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Related Topix: Terrorism

Independent Women's Forum

Why We Should Export Crude Oil

In the reference case, the decrease in gasoline price is estimated to be $0.09 per gallon in 2015. If oil supplies are more abundant than currently expected, the decline in gasoline prices will be larger and will continue throughout the model horizon .

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Related Topix: World News

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