Latest news
Daily Energy Overview, Thursday, March 03, 2011
U.S. crude oil futures settled over 102 dollars on Wednesday for the first time since September 2008 as civil conflict expanded in Libya and an airstrike nearby country’s oil infrastructure deepened worries over a lasting disruption from OPEC countries.
read more... 03/03/2011
OPEC criticizes IEA for inconsistent oil supply view
The International Energy Agency (IEA) accused the OPEC of intentionally hesitated to boost the output of oil in order to maintain a higher level of oil prices. At the same time, OPEC criticizes the agency for providing inconsistent oil price view.
read more... 19/01/2011
Daily Energy Market Overview, Tuesday, January 18, 2011
Oil prices dropped on Monday following a stronger dollar and as main Alaskan oil pipeline became entirely operational after supply disruptions during more than a week, while an OPEC report indicated that the market was well supplied.
read more... 18/01/2011
Iran has found huge reserves of gas
Iran, OPEC's second largest oil exporter, has discovered a new gas field onshore with reserves valued at 50 billion dollars, Oil Minister Masoud Mirkazemi said on Sunday.
read more... 17/01/2011
OPEC should not convene an emergency meeting.
OPEC, the producer of 40 percent of the world's oil, doesn't need to gather for an emergency meeting to discuss any further reduction in oil production even if the price of crude oil hits $90 a barrel, Iran’s OPEC governor said.
read more... 13/01/2011