OPEC and OAPEC

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.     (more…)

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 (more…)

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 (more…)

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.     (more…)

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.     (more…)

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.     (more…)

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…

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.   (more…)

The Organization of the Petroleum Exporting Countries doesn't need to have an extraordinary meeting to address the current energy market, Tehran said.     (more…)

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 ..    …