News Topics: OPEC
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Sources: Iraq Tells Partners to Lift Basra Heavy Crude from May
Friday, April 24, 2015 Iraq's State Oil Marketing Organisation tells its oil firm partners to start loading Basra heavy crude from May instead of its flagship light grade.
Shale as World's Swing Producer Signals 'Jagged' Future for Oil
Monday, April 20, 2015 With OPEC ceding control for the first time since the 1980s, US shale oil has been anointed the world's new "swing producer".
Delegate: OPEC Should Consider Return To Oil Quotas
Friday, April 17, 2015 OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, an OPEC delegate says.
OPEC Oil Output Surge Boosts Surplus, Despite Higher Demand
Thursday, April 16, 2015 OPEC says its oil output surged in March, adding to a global glut, despite more evidence that the producer group's strategy of letting prices fall to hurt other producers is taking effect.
Venezuela Oil Minister Meets OPEC Nation Ambassadors
Wednesday, April 15, 2015 Venezuela says ambassadors of various OPEC countries are meeting the country's oil minister Asdrubal Chavez in Caracas.
Saudi Arabia Leads OPEC Oil Boom As US Shale Growth Slows
Wednesday, April 15, 2015 OPEC production climbs by the most in almost four years as Saudi Arabia, Iraq and Libya boost output amid a stronger outlook for global oil demand, according to the IEA.
Iran Joins OPEC Member Libya Calling On Group To Cut Oil Output
Tuesday, April 14, 2015 Iran becomse the second OPEC member this month to call on the group to reduce oil production ahead of its June meeting.
OPEC's No-Cut Strategy is Not Working, Iran Says
Friday, April 10, 2015 OPEC's strategy of holding output steady is not working and the group's members should discuss production levels before its next meeting in June, Iran's oil minister says, a sign of the pain lower prices are causing OPEC's less wealthy producers.
Libya Official: OPEC Should Change Course, Cut Oil Output
Wednesday, April 08, 2015 OPEC should change course and cut oil supply by 800,000 bpd or more to prevent an expected return of Iranian exports from weighing on prices, Libya's OPEC governor says.
Gulf OPEC Delegate: Global Demand To Help Oil Prices Despite US Glut
Tuesday, March 24, 2015 Stronger-than-expected global oil demand should help support crude prices at around $55-$60 a barrel in the next two months, a senior Gulf OPEC delegate says.
Saudi Minister: OPEC Won't Bear Burden of Propping Up Oil Price
Monday, March 23, 2015 OPEC will not take sole responsibility for propping up the oil price, Saudi Arabia's oil minister says, signalling the world's top petroleum exporter is determined to ride out a market slump that has roughly halved prices since last June.
US Drillers Scrambling To Thwart OPEC Threat
Monday, March 23, 2015 Companies are leaning on new techniques and technology to get more oil out of every well they drill, and furiously cutting costs in an effort to keep US oil competitive with much lower-costing oil.
Kuwait: OPEC Has No Choice But To Keep Output Unchanged
Thursday, March 19, 2015 OPEC has no choice but to keep its market share and shun oil output cuts, Kuwait's oil minister says, reiterating the view from the emirate that the group will hold its course when it meets next in June.
Minister: Low Prices Will Hamper Nigeria's Bid To Boost Output
Tuesday, March 17, 2015 Oil Minister Diezani Alison-Madueke says consistently low oil prices will hamper Nigeria's bid to boost output to 4 million bpd.
OPEC Comes Cleaner on How Much Oil its Members Pump
Monday, March 16, 2015 OPEC members' own versions of their oil output were for years greeted with such scepticism that the group resorted to publishing what others thought they were producing.
Kuwait Expects OPEC to Continue Policy beyond June
Tuesday, March 10, 2015 OPEC is likely to maintain its production policy at a meeting in June, according to Kuwaiti official.
Platts: OPEC Output Down 20,000 Bpd in February
Monday, March 09, 2015 Oil production from OPEC remained below the group's 30 million bpd ceiling for a second consecutive month in February as lower volumes from Libya and Nigeria more than offset increases.