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Organization of Petroleum-Exporting Countries

Organization of Petroleum-Exporting Countries latest

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said. (Shutterstock)
March 31st, 2019 - 07:59 GMT

Oil Prices Report Biggest Quarterly Rise in a Decade

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said.
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The report said the El-Sharara field deep in the county's western desert could start producing "within the next two weeks" and could reach output of 400,000 barrels per day shortly
October 4th, 2011 - 07:58 GMT

Libyan oil output to hit 1 million bpd by November end

Iran, which holds the rotating OPEC presidency, usually pumps as much as its creaking oil sector will allow but opposes OPEC production increases because of their potential to reduce per barrel sales revenues
October 3rd, 2011 - 03:19 GMT

Iran, Saudi Arabia see balanced oil market

The market is currently characterised by a balance between supply and demand
October 2nd, 2011 - 09:14 GMT

Saudi oil minister says oil market balanced

Al Bawaba
September 20th, 2011 - 01:13 GMT

OPEC oil output expected to decline as Libya recovers

Abu Dhabi’s GDP, which makes up 57 percent of the UAE economy, is still below the 705.2 billion dirhams seen in the oil and property-boom year of 2008
September 19th, 2011 - 12:29 GMT

Oil revival lifts Abu Dhabi’s 2010 nominal GDP 16 percent

oil
September 8th, 2011 - 06:03 GMT

Saudi Arabia raises oil prices

The unprecedented wave of popular uprisings in the Middle East and North Africa (MENA) that followed the removal of Tunisian President Ben Ali on January 14 has obviously fundamentally altered this outlook of oil, particularly since the unrest spread to Libya in mid-February
September 7th, 2011 - 06:56 GMT

Oil demand expected to increase to about 841,000 bpd in the MENA by 2015

Baseeri said the sovereign debt crisis in the United States and Europe, the loss of the Libyan oil and inflation in China were the main causes for fluctuations in oil prices
September 5th, 2011 - 02:33 GMT

Kuwait, Saudi Arabia boost oil output to ease prices

Aframax tankers in the Med market are also used to lift crude oil from Syria but a violent five-month-old crackdown on pro-democracy protestors as well as existing sanctions have led to slower aframax trade there
September 4th, 2011 - 02:34 GMT

Libya, Syria troubles add to crude tanker rate rout

Employees from five foreign oil companies were already in Libya working to restore infrastructure and get operations running again
September 3rd, 2011 - 02:07 GMT

Oil firms in Libya must return fast to restore production

Iraq's plans and estimated costs are ready but the issue all ministries face is that of financing
August 24th, 2011 - 03:55 GMT

Iraq dreams big with much-needed infrastructure projects

If Libyan production returns; it would ease gasoline prices and increase disposable income, potentially boosting economies worldwide
August 23rd, 2011 - 02:55 GMT

Brent crude oil falls while gold rallied to another record following Libya's events

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