Russia has strengthened its position in Asia by shipping almost a quarter more crude in 2015, which blunted OPEC’s drive to gain consumers in the
Tag: OPEC
OPEC’s Crude Price Forecast: 2016 ‘Hopeless’ but 2017 Somewhat ‘Hopeful’
OPEC says that crude prices are very unlikely to head north in 2016 due to the additional supply from Iran, which is beginning to boost
OPEC Says Oil Output Highest in Three Years
OPEC increased its crude output more in November than in any month since late 2008 since it insisted on its policy to protect market share
China-Iran Oil Deal Shows Discontent within OPEC
China has recently renewed its oil purchase contracts with Iran, thus boosting the confidence of Teheran to re-establish itself in global energy markets. At the
Canpotex as ‘OPEC’ and PotashCorp as ‘Saudi Arabia’ of the Potash Industry
Potash prices have gone down by US$15 per ton to US$282 per ton from US$297 since March this year. In the light of last week’s
Saudi Arabia Seeks Non-OPEC Partners to Help Cut Oil Supply
Representatives of Saudi Arabia said on Monday (23 November) that the kingdom was ready to collaborate with OPEC and non-OPEC countries to attain market stability.
US Admits Oil Output Will Go Down Next Year
The US government’s energy unit confirmed that the country’s oil production will plummet more than expected in 2016 after an unexpectedly strong performance this year.
Gulf Refiners Put Off Maintenance in Anticipation of Weak Crude Prices in 2016
Gulf oil refiners are postponing some field maintenance until 2016 to keep output high and to decrease costs as analysts predict that the prices will
Saudis Unsuccessful at Making Asia Want More Oil
Saudi Arabia did not manage to attract extra offers for oil shipments in October, a sign suggesting that the market is still oversupplied. The offers
US Oil Output Dramatically Decreasing
Experts in the oil industry warned yesterday of a dramatic fall in the US crude output that could make prices soar if demand goes up.