OPEC producing countries and consumer countries and through the International Energy Forum to provide adequate supplies of petroleum, stabilize oil markets and return oil prices to fair levels for producers, consumers and the industry of (...)
The most recent monthly oil market report issued by OPEC, which happens to be the last report to be published before the convening of the organization's ministerial meeting next Wednesday, indicates that the OPEC Reference Basket has dropped by (...)
style” rice cartel in Southeast Asia will go nowhere due to the inability of governments to cooperate with each other and control output from their farmers, analysts and traders said on Friday.
Thai Prime Minister Samak Sundaravej, a TV chef whose (...)
Badri delivered a speech emphasizing the importance of this meeting and wishing all success for the interest of OPEC countries.
In a closed-door session, the heads of the delegations addressed the meeting.
Later, Prince Saud Al-Faisal and OPEC (...)
Badri thanked Saudi Arabia for hosting OPEC summit and its efforts for the summit's success, saying," This is the third time that I visit Riyadh and the previous two times were for coordination for the establishment of this summit. We have worked on (...)
Badri thanked Saudi Arabia for hosting OPEC summit and its efforts for the summit's success, saying," This is the third time that I visit Riyadh and the previous two times were for coordination for the establishment of this summit. We have worked on (...)
ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those (...)
member group currently pumps just over 30 million barrels a day, about 40 percent of global needs, according to Dow Jones Newswires estimates.
El-Badri also said it's too early to talk about the agenda
for OPEC's next meeting, as members aren't (...)
and mainly Saudi Arabia's-readily available capacity which eased the supply shortfalls during the Iranian revolution in 1979, the Iran-Iraq war in the 1980s, Iraq's invasion of Kuwait in 1990, FSU's production decline in the early nineties, the (...)
and mainly Saudi Arabia's-readily available capacity which eased the supply shortfalls during the Iranian revolution in 1979, the Iran-Iraq war in the 1980s, Iraq's invasion of Kuwait in 1990, FSU's production decline in the early nineties, the (...)
OPEC supply growth this year by 205,000 barrels per day, with production problems in the U.S. Gulf, Mexico, Norway and Britain accounting for most of the shortfall. Russia is also pumping less than expected.
"The extent to which (the IEA) felt (...)
very little," said broker Rob Laughlin of Man Financial in London.
"The only thing that can halt oil's rise is evidence it is damaging the global economy. So far we have not seen that."
The Organization of the Petroleum Exporting Countries, (...)
coverings after the earthquake news but that was very small," said one dealer.
BP Chief Executive John Browne said the incident cut no more than 5 percent of gasoline production at the plant, the third largest in the United States.
A second steep (...)
Fahd al-Sabah of Kuwait said on Sunday that although prices were high, the market was well-supplied.
"Everybody realizes that at this level OPEC can't really do anything, they are still afraid that the market isn't really that tight," said Tony (...)
demand balance is healthy are likely to get backing from U.S. stock data Wednesday, which analysts expect will show stockpiles rising for the fourth consecutive week.
Crude and gasoline supplies in the United States are already running about 9 (...)
general Adnan Shihab-Eldin said on Thursday that a supply disruption in already tight markets could push prices as high as $80 over the next two years.
Booming commodity markets have become increasingly attractive to speculators as they bet that (...)
US$34 per barrel from the
current US$22-US$28 range, due to inflation and the U.S.
dollar's depreciation. The current price band was set in
2000.
Asked if there is a chance that OPEC will cut production
in the wake of recent price falls, (...)
members. These countries
should seek to intensify cooperation amongst themselves in
order to ensure stable markets for the strategic commodity,
petroleum, and to guarantee the continuous growth of the
global economy.
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1258 Local (...)