Qatar’s oil minister said he does not expect OPEC to make a “dramatic” decision during the upcoming OPEC meeting in June, and that the market is still well supplied.

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Crude for May delivery fell Monday a day after the US economy reported that the economy added 216 thousand jobs last month, while Libya’s conflict continues to push prices higher. Nonetheless, Kuwait Oil minister sees prices high, and expects oil to drop and trade near 90.0 – 100.0 a barrel as soon as conditions in Libya ends.

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Oil producer club OPEC is set to earn more than $1 trillion from oil exports if crude prices remain above $100/barrel this year, the International Energy Agency said Wednesday.

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The Organization of the Petroleum Exporting Countries doesn’t need to have an extraordinary meeting to address the current energy market, Tehran said.

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Eng Sufian Allaw Minister of Oil and Mineral Resources, opened the workshop set up by the Arab Company for Petroleum Investments (APICORP) on the financing of oil projects and infrastructure projects for oil industry in Syria ..

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Minister of Petroleum and Mineral Resources Eng. Sufian Al law opened on Sunday training session held by the Arab Company for Petroleum Investments (APICORP) in financing oil projects and infrastructure projects for oil industry in Syria and in the foundation building of General Petroleum Corporation .

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OPEC’s newly announced plans to spend billions of dollars on future supplies are unlikely to unleash a flood of oil on to the market as it maintains a policy of restraint and supporting prices for years to come.

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“The reason these OPEC ministers say they’re not likely to add any supply soon is because there is enough supply on the market and these high prices are due to speculation rather than supply and demand.”

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Al-Baath University in Homs honored Dr. Musab al-Din al-Baraidi OAPEC 2nd scientific Award winner on the theme “The results of the application of modern technologies in the Oil exploration and production in Arab countries and their economic revenues ” for the year 2010, which jointly awarded with Dr Khaled Khalaf from the Directorate of fields Aljbsah in the Syrian Petroleum Corporation .

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The 85th session of the ministerial council of the Organization of Arab Petroleum Exporting Countries (OAPEC) approved Saturday its 2011 estimated OAPEC budget of 2.053 million Kuwaiti dinars (about 7.28 million U.S. dollars) 4 percent up from that of the last year.

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