News on OPEC (Organization of the Petroleum Exporting Countries) continually updated from thousands of sources around the net.
5 hrs ago | Reuters
Saudi Arabia's economy is likely to grow 4.6 percent this year, more than previously estimated, helped by a robust performance of the private sector, the International Monetary Fund said on Monday.
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Senate President David Mark, House of Representatives Speaker Aminu Tambuwal and former Vice President Atiku Abubakar have also paid tributes.
Hedge funds and other large speculators slashed their bets on higher Brent crude oil prices by almost 25 percent in the week to July 15, ICE said on Monday, as prices collapsed to their lowest in three months.
Nigeria's long serving former petroleum minister and head of OPEC, Dr. Rilwanu Lukaman, has died at the age of 75, family sources told APA on Monday.Lukman served as minister of petroleum between 1986 and 1990, and then again between 2008 and 2010, in addition to heading state-run Nigerian National Petroleum Corporation between 1999 and 2003.
China will provide Venezuela with a $4 billion credit line under an agreement signed on Monday, with the money to be repaid by oil shipments from OPEC member Venezuela.
If Jon Karl is to be believed, the sky is falling and the world has never been deeper in a handbasket than it is right now.
China's crude oil imports from Iran expanded 38 percent in June from a year ago, although the shipments were also at their lowest level in four months, customs data showed on Monday.
Qatar isn't buying American tanks -- but with $11 billion to spend, that's about the only thing it is not buying.
A near 10 percent drop in international oil prices since last month has taught a painful lesson to many hedge funds and other speculators in energy futures: you can ignore physical markets for only so long.
Concern that conflicts and rising tensions in the Ukraine and the Middle East could disrupt supplies sent oil prices higher this week, though the world appears to have an ample supply of crude and supplies have not been affected.
If you're curious about the impact of economic sanctions on Iran, OPEC's newly-released 2014 statistical bulletin provides a pretty concrete look.
Brussels & Vienna - With talks between world powers and Iran over a broad nuclear accord at an impasse, Western governments are considering offering a significant easing of sanctions early on in the process to try to wring concessions from Tehran, diplomats say.
WTI crude is up 1.0% to $102.19/barrel and Brent crude is up 0.6% to $107.81/barrel.
With talks between world powers and Iran over a broad nuclear accord at an impasse, Western governments are considering offering a significant easing of sanctions early on in the process to try to wring concessions from Tehran, diplomats say.
Updated: Tue Jul 22, 2014 07:20 am
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