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Lessons from the OPEC oil embargo
Jules Kortenhorst | November 11, 2013 12:12 AM
Forty years ago, the United States and much of Europe learned difficult lessons about their dangerous addiction to fossil fuels.
OPEC exports to drop as Saudis trim output
October 26, 2013 12:23 AM
The Organization of Petroleum Exporting Countries will reduce crude shipments through early next month as Saudi Arabia reduces exports, according to data from Oil Movements.
OPEC trims demand for its oil in 2014
Alex Lawlera | October 11, 2013 12:21 AM
OPEC further lowered the forecast demand for its crude in the fourth quarter and 2014, and said its production remained higher than next year’s global requirement despite a plunge in Iraqi and Libyan output.
OPEC sees enough oil now, market share fall looms
Alex Lawler | September 11, 2013 12:37 AM
OPEC said the world oil market was well supplied despite a plunge in Libya’s output and forecast a further drop in its oil market share in 2014 due to rising supply from the United States and other countries outside the group.
OPEC March output drops to a 16-month low
March 29, 2013 01:22 AM
OPEC crude production slipped to a 16-month low in March as output in Nigeria dropped to the least in over three years, a Bloomberg survey showed.
OPEC lifts 2013 world oil demand forecast amid signs of recovery
February 13, 2013 01:27 AM
World oil demand will grow faster than previously thought in 2013, producer group OPEC said Tuesday, citing signs of a recovery in the world economy.
OPEC sees no need to trim supply further
January 29, 2013 01:03 AM
The world oil market should remain well supplied in 2013 and OPEC does not need to trim back its oil output, OPEC secretary-general Abdullah al-Badri said Monday.
Output cut due to low demand, not bid to prop up prices
Anthony DiPaola | January 22, 2013 01:09 AM
Saudi Arabia, the world’s largest crude exporter, said it cut production last month to adjust to decreased demand rather than to prop up oil prices.
OPEC output drops to lowest in year
January 19, 2013 01:17 AM
The Organization of Petroleum Exporting Countries pumped at the lowest level in a year in December on reduced output from Saudi Arabia and Iraq, its two largest producers.
OPEC to boost supply for final winter demand
January 12, 2013 01:06 AM
The Organization of Petroleum Exporting Countries will increase crude shipments this month to meet the final phase of peak winter demand in the northern hemisphere, according to tanker tracker Oil Movements.
Iraq star rises in OPEC as embargo hurts Iran
Nayla Razzouk | December 29, 2012 12:56 AM
Iraq jumped two places to No. 2 in OPEC’s rankings this year, cementing its position among the world’s leading oil producers.
Saudi keeps oil exports stable as Iraq raises shipments
December 20, 2012 01:26 AM
Saudi crude exports were little changed in October from the previous month, while Iraq, OPEC’s second-largest producer, raised shipments by 4.1 percent, according to the Joint Organizations Data Initiative.
Iran, UAE content with oil prices
Grant Smith | December 12, 2012 02:09 AM
Iran and the United Arab Emirates, the fifth- and sixth-largest producers in OPEC, said they were content with oil prices and market supply, signaling they have little desire to alter the group’s production quota.
OPEC to keep quota as revenue tops $1 trillion
December 05, 2012 01:34 AM
OPEC will probably keep its output quota unchanged for a second successive meeting next week as members judge prices high enough to cover their spending needs.
OPEC to keep oil target unchanged
November 30, 2012 01:38 AM
High oil stockpiles, slowing demand growth and a fragile world economy would normally give OPEC reason to consider supply cuts when it meets next month.
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