OPEC heading for deal on 30 mln bpd oil target
OPEC oil producers, at odds over supply policy since June, look set at a mid-December meeting to agree a new production target that legitimises current cartel output at 30 million barrels a day.
OPEC and OAPEC
Opec: Oil prices ‘reasonable’
Current oil prices are “reasonable” and the rapid rebound in Libyan crude output should see other Opec members trim production, Opec ‘s head said yesterday, adding he expected the next meeting of the oil exporter group to be more amiable than the last one in June.
OPEC expects oil prices at $85-95 over next decade
Oil producer group OPEC is investing in new supplies to meet rising consumption, even as it sees the risk to the demand outlook as being on the downside because of Europe’s sovereign debt crisis and a slowing global economy.
OPEC crude jumps USD 1.92 to USD 111.40 pb
The price of the 12-crudes basket of the Organization of Petroleum Exporting Countries (OPEC) went up USD 1.29 on Wednesday to settle at USD 111.40 pb, from USD 109.48 pb Tuesday.
OAPEC Reports on Region’s Volume Oil Reserves
The annual report of the Secretary General of the Organization of Arab Petroleum Exporting Countries (OAPEC) indicates that the total proven crude oil reserves of the region at the end of 2010 amounted to about 683.66 billion barrels, while total proven reserves of natural gas for the same period amounted at about 54.8 Tcm.
OPEC cuts oil demand growth forecast on economy
OPEC, source of more than a third of the world’s oil, cut its forecast for global oil demand growth this year as a worsening economic outlook curbs consumption in developed economies.
OPEC slams IEA’s release of oil reserves
Oil producing cartel OPEC has hit out at the International Energy Agency (IEA) for choosing to release strategic reserves of oil on to the market
Saudi says oil fundamentals sound
The world’s top crude exporter Saudi Arabia on Monday underlined what it called the “good” fundamentals of supply and demand, but also expressed concern about the oil market’s stability
OPEC, IEA clash over oil reserves weapon
Consumer watchdog the International Energy Agency’s emergency oil release is a desperate measure that threatens to undo two decades of cooperation with OPEC and could fail to calm prices.
OPEC considers hike in oil output target
OPEC is considering raising its target for crude oil supply by as much as 1.5 million barrels per day (bpd), a delegate to next week’s meeting of the group told Reuters on Thursday.
