Escalating violence in Yemen, a producer of only 0.2 percent of the world’s oil, has spurred unexpected rally across the markets with commodities and metals
Tag: OPEC
Venezuela’s Pending Bankruptcy: Why and How Diversify?
Venezuela is facing a major economic crisis and despite the fact that you can still buy subsidized petrol in the centre of Caracas just for
South Korea’s Crude Imports from Iran Drop by a Half
According to the preliminary customs data, South Korea decreased its imports of crude oil from Iran by 50 percent between February 2014 and February 2015.
Rosneft’s Boss Blames OPEC and the U.S. for Cheap Oil
The boss of the Russian state-run oil company, Rosneft, Igor Sechin, criticized OPEC’s decision not to cut production on the sidelines of the International Petroleum
IEA: U.S. to Remain Top Source of Oil Supply Growth by 2020
According to the Medium Term Oil Market report of the International Energy Agency (IEA), the United States will remain the world’s most important source of
Saudi Arabia: New King, Old Oil Policy
Saudi Arabia’s new king Salman is expected to keep oil production unchanged in order to discourage competitors and defend market share. Despite the expectations of
Oman Criticizes OPEC for Keeping Oil Production Unchanged
Oman’s Oil Minister, Mohammad bin Hamad al-Rumhy, recently (21 January) censured OPEC’s decision not to cut oil production to support the prices saying that this
Iraq Announces its Record Oil Output
After Iraq, an OPEC member, had announced its record crude production, Brent crude oil prices went down below $50. Iraq’s Oil Minister, Adel Abdel Mehdi,
Oil Drops below $45 while OPEC Standing Firm on Output
The Organization for Petroleum Exporting Countries (OPEC) is unshakable in its decision not to cut oil production to prop up prices. The cartel still insists
OPEC: Iran and Venezuela to Lobby Together for Higher Prices
Iran’s leader Ayatollah Ali Khamenei confirmed during his meeting with Venezuela’s president on Saturday (10 January) that he supported the cooperation of both countries to