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Tag Archives: OPEC
Saudi Arabia Confident Of Meeting Oil Demand
Saudi Arabia is taking pride in keeping oil prices stabilized for global economic growth despite a halving of Iranian exports because of oil embargo. It is also confident that the kingdom will meet present and future demand for oil, easing … Continue reading
Posted in Oil Prices, Oil Resources
Tagged Ali Al- Naimi, oil demand, Oil Prices, oil supply, OPEC, Saudi Arabia
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Iraq Oil Exports See a Three Decade Rise
Iraq oil exports rose to the highest level in more than three decades, Oil Ministry spokesman Asim Jihad confirmed on Monday. In September 2012, Iraq exports exceeded 2.6 million barrels per day (bpd) on an average compared to 2.565 million … Continue reading
Posted in News, Oil Prices
Tagged Basra oil terminal, Iraq, Kurdistan, oil exports, Oil Prices, OPEC
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OPEC Oil Prices Continue to Soar Up
According to the Vienna-based cartel, weekly average prices on oil of the Organisation of Petroleum Exporting Countries (OPEC) climbed up to $122.87 per barrel. From the last weekly report, the price rise has been recorded the highest since July 2008.
OPEC likely to skip individual production targets
OPEC delegates state that OPEC is unwilling to state individual output production quotas for members. The last output production limit had been set in 2008 for 11 members excluding Iraq. This quota was implemented to restrict supply as recession was … Continue reading
The Greece Bailout
The bailout for Greece by the EU caused oil prices to float above $94 on Monday. However, even as the Greece debt crisis is being sorted, worries of a similar problem in Italy loom on the horizon. Oil prices shuffle … Continue reading
Saudi Arabia denies excess supply of oil
The oil minister of Saudi Arabia, ‘Ali Al- Naimi ‘ denied excess production of oil and stated that they have only been trying to match the demand for oil in the market. Saudi Arabia is one of the biggest producers … Continue reading
Posted in News
Tagged Ali Al- Naimi, Libya, Libyan oil, Oil, oil demand, Oil production, oil supply, OPEC, Saudi Arabia
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Oil prices estimated to be stable throughout the year
Analysts predict that the decision of OPEC (Organisation of oil exporting countries) to curb in oil exports if oil prices soar due to the decrease in economic growth will likely to result in oil prices to be steady throughout the … Continue reading
Posted in News, Oil Prices
Tagged Gulf oil countries, Libya, Libyan oil crisis, Libyan war, Oil economy, Oil Industry, Oil Prices, OPEC
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OPEC reviews demand for oil forecast
After revising its oil demand and consumption forecast, OPEC stated that the demand would remain low in the year 2011 due to slow global economic growth in industrial nations and a weak US economy.
Posted in News, Oil Prices
Tagged Global economy, Libya turmoil, Oil, Oil economy, Oil Industry, Oil release, OPEC, Recession
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OPEC Members to Boost Oil Production
It’s great to know that the Members of Organisation of Petroleum Exporting Countries are taking wise steps to prevent the price rise. In a press conference Kuwait’s oil minister exclaimed that Saudi Arabia and Kuwait, the two OPEC members, have … Continue reading
Posted in News, Oil Prices
Tagged Oil production, OPEC, OPEC members, OPEC quota, Price rise, West texas intermediate, World economy
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IEA to review emergency reserves oil release
The release of emergency oil reserves by the IEA which sent shock waves throughout the oil and foreign exchange market is set to be reviewed by the IEA at the end of this week. It is estimated that there could … Continue reading
Posted in News, Oil Prices
Tagged Emergency reserve release of oil, IEA, Oil economy, Oil Prices, OPEC, US dollar
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