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(AP Photo/ Nabil al-Jurani, File)

Iraq’s oil exports climb to record with output at all-time high

Iraq joined Saudi Arabia in pumping more oil as OPEC members defend market share against higher-cost producers. Brent crude has climbed 10 percent this year, spurring speculation that higher prices will lead to even more output and prolong a surplus.
Categories: General

OPEC oil production hits ceiling amid Saudi push, analysts say

OPEC seems to have reached technical problems pushing its oil production beyond what appears to be a natural ceiling, as its crude exports fell an average 850,000 barrels in May despite a surge of Saudi oil.
(AP Photo/ Nabil al-Jurani, File)

Iran and Iraq declare their plans to expand oil production

The Organization of Petroleum Exporting Countries has been pumping above its production quota for months, determined to subdue supply from higher-cost producers. The strategy is working, with a record drop in the number of active U.S. rigs and billions cut from global producers’ spending plans. In contrast, some of OPEC’s members spent this week outlining how they plan to expand output.
(AP Photo/ Nabil al-Jurani, File)

Iraq about to flood oil market in new front of OPEC price war

Defying the threat from Islamic State militants, Iraq has been ramping up exports from both the Shiite south – where companies like BP Plc and Royal Dutch Shell Plc operate – and the Kurdish region in the north.
Categories: Crude oil, Middle East

US officials: Iran enters Iraqi fight for key oil refinery

The Iranian role was not mentioned in a new U.S. military statement asserting that Iraqi security forces, with U.S. help, had managed to establish a land route into the Beiji refinery compound.
Categories: Middle East
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Brazil's President Dilma Rousseff (L) shakes hands with workers of Brazilian state-run oil giant Petrobras at Petrobras's shipyards in Rio de Janeiro, on September 11, 2013. (VANDERLEI ALMEIDA/AFP/Getty Images)

Brazil, Russia enter ring in U.S.-OPEC heavyweight fight

Contenders in the battle for oil market share include Russian oil companies, Brazil’s state-run Petrobras and oil fields in China and Southeast Asia, which have all pumped thousands of barrels into a global crude glut.
(AP file photo/Hasan Jamali)

Saudi Arabia adds half a Bakken to global oil market in a month

Prices collapsed almost 50 percent last year as Saudi Arabia led OPEC in maintaining production in the face of a global glut.
Kurdistan needs oil revenue to mobilize its peshmerga fighters in the battle against the Islamic State. (PHOTO: AHMAD AL-RUBAYE/AFP/Getty Images)

Iraq’s February oil exports below planned level for Islamic State fight

Crude exports in February averaged 2.596 million barrels a day — almost a million barrels less than planned.
(AP Photo/Nabil al-Jurani, File)

Islamic State’s oil revenue cut by air raids, falling oil

The group’s capacity to extract oil, refine it and sell the products has “significantly diminished,” according to a new report.
(AP Photo/Hasan Jamali, File)

Oil resumes price fall after hitting high for 2015

Oil prices are falling again in anticipation of growing U.S. supplies and a global glut.