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News // Middle East and OPEC

High stock and diving demand give OPEC sleepless nights

Oil inventories are at the highest in nearly two decades and global fuel demand is falling

22 April 2009 , 10:09oilnews.com13280

Brazil is unlikely to join OPEC

Brazil is unlikely to join the Organization of Petroleum Exporting Countries anytime soon, despite overtures from the cartel, the head of the nation's state-run oil company said Thursday.

20 April 2009 , 16:27oilnews.com14880

Iran, Nigeria, Venezuela, Angola Excess OPEC Quota in March

OPEC is expected to produce about 1 million barrels a day above its total quota in March

01 April 2009 , 07:30Ksenia KochnevaDow Jones Newswires18980

OPEC Output Cuts - To Be Continued?

OPEC's president Angola believes new cuts are irrelavant, because the influence of the previous curbs should be reseached, but other OPEC members are not that confident
05 March 2009 , 09:35Ksenia Kochneva12070

CGES Says OPEC Output Cuts Will Hardly Up Oil

The OPEC cartel will find it "extremely difficult" to boost oil prices by cutting output because of the uncertain economic climate, energy consultancy CGES said on Monday
24 February 2009 , 08:28Ksenia Kochneva10320

OPEC Members Carry Out 65% of Production Cuts So Far

Members of the Organization of the Petroleum Exporting Countries have implemented nearly two-thirds of the production cuts of 4.2 million barrels per day that they agreed to last September, an OPEC report showed Friday
16 February 2009 , 20:38Ksenia Kochneva10670

OPEC May Cut Output Again in March

Iraqi oil minister predicts OPEC will cut production in March
10 February 2009 , 11:49Ksenia Kochneva9200

OPEC Postpone 35 Oil Projects

OPEC nations have collectively postponed 35 oil drilling projects as low crude prices deter investment, a top OPEC official reported on Monday
10 February 2009 , 11:41Ksenia Kochneva11500

Deutsche Bank Predicts OPEC Cuts Won't Boost Oil Prices

Adam Sieminski, chief energy economist for Deutsche Bank told Reuters that the situation is difficult, and the previous cuts had effect
22 January 2009 , 12:079910

Crude Oil Futures Gain A Bit In Price

The reason is expected additional production cuts by OPEC
14 January 2009 , 12:33Ksenia Kochneva9820

OPEC Oil Prices Rebound Slightly

The weekly average prices of OPEC rebounded slightly above $40 per barrel last week to $43.99
13 January 2009 , 12:42Ksenia Kochneva9710

Ecuador to Cut Foreign Cos' Oil Production

Ecuadorian President Rafael Correa warned that to comply with the cut in oil production ordered by OPEC, the government will reduce the volume produced by a number of foreign companies operating in Ecuador
31 December 2008 , 08:21Ksenia Kochneva10690

Eni To Develop Irani Oil Field

Bloomberg reported that Italian company gave its agreement to the third phase of Irani Darkhovin oil field
25 December 2008 , 09:55Ksenia Kochneva10750

Kuwait To Assess Investments in Energy Sector

Kuwaiti oil minister said that his country had to make a few amendments to its energy strategy
23 December 2008 , 08:30Ksenia Kochneva14160

OPEC's President Said Oil Prices Reached The Minimum

Oil prices have found a floor around current levels, OPEC President Chakib Khelil told Reuters on Friday
19 December 2008 , 15:32Ksenia Kochneva8630

OPEC Cuts Supplies By 2 Mln. Barrel a Day

The news was announced by the Oil Minister of Saudi Arabia
17 December 2008 , 11:48Ksenia Kochneva8640

OPEC Consider Russian Membership

OPEC could consider Russian membership to the cartel at a meeting today
17 December 2008 , 10:44Ksenia Kochneva10680

OPEC Wants Extension or Output Cut

Algerian Oil Minister Chakib Khelil, the current president of OPEC, urged Russia, Norway and Mexico to join or cut their crude production to show solidarity with the group
03 December 2008 , 12:29Ksenia Kochneva13800

OPEC Delayed Production Cut Announcement

The members agreed to "take any additional action ... to balance oil supply and demand, and achieve market stability" during their Dec. 17 extraordinary meeting in Oran, Algeria
01 December 2008 , 12:18Ksenia Kochneva13790

OPEC Seeks for Help from Non-Members

OPEC secretary-general Abdalla El-Badri said the group would seek help from nonmembers Russia, Mexico and Norway in restraining oil supply
01 December 2008 , 10:15Ksenia Kochneva13860

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