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OPEC
The Organization of Petroleum Exporting Counties (OPEC) is a permanent international body, formed in Baghdad in September of 1960. OPEC plans and orchestrates the petroleum policies of its 13 member countries – and, by default, most of the world’s gas and oil prices. This topic covers the latest news on OPEC’s plans.
OPEC is part of Business Exchange, suggested by
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News
Recent news on this topic.
NIGERIA loses about 180,000 barrels of crude oil per day (bpd) to theft and pipeline vandalism, according to the...
While the oil reserve has been estimated to peak at about 40.05 billion barrels in 2016, it will later decline to 27.
Iran has made an oil discovery in its sector of the Caspian Sea, which it claims could contain around 7bn-10bn bl of...
Says OPEC was not happy with current high oil prices, and that anything over $110/barrel was too high.
European buying of Iranian crude has slowed to a trickle as it becomes ever more difficult to take delivery of cargoes...
Due largely to somewhat conflicting impulses in the oil market, oil prices will likely remain volatile for some time.
Crude production in the two OPEC member states appears to be moving in very different directions.
National oil companies and the buyers of their oil should publish the price, volume, and crude grade for every cargo of...
Iraq's refining sector is in pressing need of extensive rehabilitation, modernisation and conversion, and needs new...
"The supply is meeting the demand."
Oil producing countries need to supply the market with crude, because current prices are threatening the future of the...
Cartel says world oil demand likely to remain unchanged from previous estimates due to weak global economy
For the year to date, Brent has averaged $115.40/b, "making it unlikely that our previous forecast of $90/b...
Supporters of the Keystone pipeline claim it will create thousands of jobs and reduce the price of gas.
Saudi Arabia, OPEC’s largest crude producer, reduced oil output and exports in December from November when it produced...
Regional oil demand trends are diverse: Asia and the Middle East are at the top of the league while Europe is skirting...
Asymmetrical warfare?
Sanctions on Iran are tightening after Overseas Shipholding Group, Frontline Ltd. and owners controlling more than 100...
This shows that basic oil supply and demand figures do not support prices at their current level of around $118 a...
Rising crude theft on the new Nembe Creek oil pipeline in Nigeria threatens 140,000 b/d of the firm's oil exports to...
Nigeria's main rebel group claimed yesterday that it had carried out an attack on the Nembe-Brass crude pipeline...
Iran's Supreme Leader Ayatollah Ali Khamenei on Friday warned the West against taking military action and imposing...
Oil prices had a low point or two in 2011, but finished the year with a fairly decent run. If Iran is pushed hard by...
The prospect of oil topping $150 a barrel within a year has become the biggest bet in the options market as the U.S.
Top Sources: OPEC
- platts.com
- Times of India
- BusinessWeek
- bit.ly
- oilandgasiq.com
- Reuters
- Economictimes
- CNN Money
- BBC
- Platts
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