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Iraq

Armed security stands near an oil pipe at the Bryan Mound facility of the Strategic Petroleum Reserve  in Freeport, Texas. (Photo: Brett Coomer/Houston Chronicle)

Guest commentary: Time to fix the Strategic Petroleum Reserve

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Two retired Air Force generals make a case for the importance of the country’s Strategic Petroleum Reserve.
(AP Photo/Charles Rex Arbogast, File)

EIA revises US oil production estimates lower; June output sank

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The federal government believes daily U.S. crude production fell to 9.3 million barrels in June, down by 100,000 barrels in the prior month, as low oil prices continue to discourage drilling.
(ALEXANDER KLEIN/AFP/Getty Images

For OPEC, this year’s painful oil slump will bring gains in 2016

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With consumption set to grow by 1.4 million barrels a day, OPEC and its de facto leader Saudi Arabia could seize the chance to broaden their market as competitors damaged by the price slump fall off.
(AP Photo/Hasan Jamali, File)

IEA: Global oil demand rising fastest in five years

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Iran added 50,000 barrels a day last month, an early increase following a deal with Western powers that is expected to lift oil-export sanctions against the country in coming months.
(AP Photo/Nabil al-Jurani, File)

Iraq’s oil output climbs to record despite fighting

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Iraq needs to keep increasing oil production because lower oil prices have curbed government revenue at a time when Islamic State militants captured parts of Iraq’s north last year.
(Brian van der Brug/Los Angeles Times/MCT)

Raymond James lowers oil forecast for 2016

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Analysts at Raymond James said that they had cut their U.S. benchmark crude oil forecast to $50 per barrel in 2015 and lowered their 2016 projection by $10 per barrel to an only slightly higher $55 per barrel.
(AP Photo/ Nabil al-Jurani, File)

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

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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
(ALEXANDER KLEIN/AFP/Getty Images

OPEC oil production hits ceiling amid Saudi push, analysts say

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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

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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

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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