Washington has widened oil export cap and thus opened a new front in the battle for oil market share readying the global markets for as
Tag: OPEC
American Oil Exports to Asia Halt amidst Mideast Competition
United States’ exports to Asia begin to stall as Mideast Gulf oil producers hurry to protect their market share amidst the lowest prices in five
China’s Oil Reserves Higher than Officially Declared
China is expected to be holding a higher amount of crude than what is stated in its official plan. Its strategic reserves are estimated to
OPEC Starts Talking Oversupply
On Friday (21 November) OPEC’s Economic Commission Board concluded a two-day meeting in Vienna before the group of oil ministers meets on Thursday (27 November)
Libya’s Major Oilfield Remains Shut Down
Libya’s El Sharara oilfield, one of the OPEC’s biggest ones producing about 200,000 barrels per day remains closed down. The closed field is a result
OPEC Not United in Further Steps to Address Plummeting Prices
Saudi Arabia’s Oil Minister Ali al-Naimi’s comments on the situation in international energy markets from the beginning of this month have left OPEC countries wondering
Saudi Arabia Supplies Less Crude to World Markets
Saudi Arabia, the world’s biggest oil producer, supplied less oil in September than in August despite higher output. The global oil markets are impatiently waiting
Tumbling Oil Prices : A Blessing in Cursed Times?
An average consumer is not, frankly speaking, used to the fact that oil prices can also fall. In fact, economic history reveals that the harshest
Kuwait to Challenge Saudi Arabia in a Battle for Asia’s Oil Market
Kuwait seeks to challenge its traditional Gulf ally and bigger neighbour, Saudi Arabia, in a contest over market share in Asian oil markets. The battle
OPEC Expected to Lower Production Target
The secretary general of the Organization of Petroleum-Exporting Countries (OPEC), Abdullah al-Badri, said that his organization was planning to lower its production objectives during its