Tag Archive

Crude Oil Price Movement to 13/06/19

Crude Oil Price Movement to 13/06/19

June 13, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $61.01 a barrel on Wednesday, 12 June 2019, compared with $62.56 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

OPEC’s Struggle To Avoid $40 Oil

OPEC’s Struggle To Avoid $40 Oil

June 12, 2019 No Comments

A few weeks ago, OPEC+ was mulling the possibility of exiting the production cut agreement because the oil market was at risk of over-tightening. Now Saudi Arabia is scrambling to extend the cuts and may even unilaterally lower its own production further in an effort to head off a price slide. On Monday, officials from […]

OPEC launches 2019 Annual Statistical Bulletin

OPEC launches 2019 Annual Statistical Bulletin

June 5, 2019 No Comments

OPEC Secretariat announced the release of the 54th edition of the Annual Statistical Bulletin (ASB). The ASB provides a wide range of data on the oil and gas industry worldwide, serving as an important source of reliable information for research analysts and academics, as well as policymakers and other industry stakeholders. The publication provides detailed and comprehensive time-series […]

Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

Saudi Arabia, UAE “Draw The Death And Collapse Of OPEC”

May 2, 2019 No Comments

In among the multitude of threats that Iran has made public since the US sanctions on Iran were levied, Iran has now heralded the collapse of OPEC, if OPEC members fill the void by snagging market share left unfilled by Iran and Venezuela, according to S&P Global Platts. Iran’s oil minister said that two OPEC members […]

3rd Joint IEA-IEF-OPEC Technical Meeting

3rd Joint IEA-IEF-OPEC Technical Meeting

April 30, 2019 No Comments

The International Energy Agency (IEA), the International Energy Forum (IEF) and the Organization of the Petroleum Exporting Countries (OPEC) met today at the OPEC Secretariat in Vienna, Austria, to participate in the 3rd Joint IEA-IEF-OPEC Technical Meeting on the Interactions between Physical and Financial Energy Markets. The Technical Meeting is part of the trilateral work […]

Tags: , ,
OPEC and non-OPEC participants renew commitment to market stabilization

OPEC and non-OPEC participants renew commitment to market stabilization

March 19, 2019 No Comments

The Joint Ministerial Monitoring Committee (JMMC) convened in Baku, the Republic of Azerbaijan, for its thirteenth meeting on 18 March 2019. The Committee reviewed the monthly report prepared by its Joint Technical Committee (JTC) and recent developments in the global oil market, as well as immediate prospects for the remainder of 2019. The JMMC reiterated […]

Nigeria ready to reduce oil output to boost prices

Nigeria ready to reduce oil output to boost prices

February 20, 2019 No Comments

President Muhammadu Buhari today pledged the cooperation of Nigeria to the effort to reduce oil output in order to attract higher prices in the global market. Speaking at an audience with Ahmad Qattan, Minister of State for African Affairs and Special Envoy of King Salman Bin Abdulaziz of Saudi Arabia, at the State House, Abuja, […]

Tags: ,
ENERGY NEWSTRACK TO  14/02/19:

ENERGY NEWSTRACK TO 14/02/19:

February 14, 2019 No Comments

The price of OPEC basket of fourteen crudes stood at $62.94 a barrel on Wednesday, 13 February 2019, compared with $61.88 the previous day, according to OPEC Secretariat calculations The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi […]

Tags: ,
Washington Eyes Crackdown On OPEC

Washington Eyes Crackdown On OPEC

February 11, 2019 No Comments

Legislation targeting OPEC is suddenly gaining steam in the U.S. Congress, raising alarm bells for the cartel. On Thursday, the House Judiciary Committee passed a bill that would allow the U.S. Justice Department to sue members of OPEC for manipulating the oil market. The so-called “NOPEC” bill would remove sovereign immunity, exposing member countries to […]

Bill allowing U.S. to sue OPEC moves forward

Bill allowing U.S. to sue OPEC moves forward

February 11, 2019 No Comments

Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress. The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, which would subject the cartel to possible […]

Page 1 of 2412345»1020...Last »