Latest news
OPEC holds production quotas unchanged
OPEC surprisingly decided at yesterday’s meeting to keep production levels unchanged, causing a rally of oil prices, with a meeting ending in disarray, as senior officials declared.
read more... 09/06/2011
Daily energy Overview, Tuesday, June 07, 2011
U.S. and Brent crude oil futures traded at their lowest level over the last two weeks on Monday on expectations OPEC will increase its output target at its meeting in Vienna. ICE Brent crude for July delivery valued 114.48 dollars a barrel, down 1.18 percent after trading from 113.96 to 116.14 dollars, while U.S. crude traded at 99.01 dollars a barrel, down 1.21 dollars, after trading between 98.64 and 100.68 dollars.
read more... 07/06/2011
OPEC to decide on oil production quotas on June, 8
The Organization of the Petroleum Exporting Countries (OPEC) oil cartel will meet on June, 8 at Vienna to decide on production quotas amid a volatile market and the civilian unrest in the Middle East that hit Libyan oil production.
read more... 06/06/2011
OPEC forecasts Japan revival to be negative
According to OPEC forecasts on Saturday, Japan will face a negative growth this year in the wake of the devastation caused by the earthquake and tsunami from March 11, but IMF (International Monetary Fund) economists remain confident that Japan could be recover from the disaster, all depending on the restoration of power supplies.
read more... 18/04/2011
OPEC output drops in March
According to a survey released by Platts, the 12-member Organization of the Petroleum Exporting Countries' (OPEC) crude oil output dropped in March by 630,000 barrels per day to 29.17 million b/d, following the loss of 930,000 b/d of Libyan production and the failure of Saudi Arabia’s supply to face the decline in Libyan.
read more... 15/04/2011