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OPEC oil output rises to more than 3-year high

OPEC oil output has risen in February to the highest since October 2008 due to a further recovery in Libya's production, higher supplies from Angola and Saudi Arabia, a Reuters survey found on Wednesday. (more…)

Opec’s crude output hits three-year high

Opec oil output rose in December to the highest since October 2008, a Reuters survey found yesterday, as members showed little sign yet of lowering output to make room for recovering Libyan supplies. …

OPEC strikes 30 million b/d output pact, no quotas

OPEC ministers earlier today put aside the acrimony that had characterized their previous meeting in June and agreed to legitimize current crude output at an overall ceiling level of 30 million b/d. (more…)

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. (more…)

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…

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. (more…)

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…