Tag: OPEC

Peaks and Troughs Across the Energy Landscape

As we charge through April and head first into the joys of spring, we are filled with reminders of rebirth, rejuvenation, renewal, and regrowth. Well, we are supposed to be…but instead I just see examples of peaks and troughs. Hark, here are four such specimens. First up, peak gasoline prices. It is a seasonal thing for […]  More »

Iran aiming to make oil contracts better for foreign investors

Iran said Sunday it plans to introduce a new generation of oil contracts by June that promise to be more attractive to foreign investors as it seeks to significantly boost production should international sanctions hobbling its vital energy industry be lifted.  More »

Q&A: Arguing the case for oil exports

The idea to the lift the ban has drawn both interest and resistance in Congress, but midterm election politics may sour the congressional appetite to change the law this year. In a recent interview with FuelFix, Felmy argued the industry’s case for dismantling the ban.  More »

Pickens criticizes push to lift ban on US crude exports

T. Boone Pickens, one of the country’s biggest cheerleaders for natural gas, is unenthusiastic about the idea of removing bans of the export of crude oil, saying that the U.S. should instead focus on reducing its dependence on foreign oil, especially from the Middle East.  More »

Oil slips back below $94 a barrel; pump price dips

On Thursday, OPEC said in a report that it expects global demand for oil to increase by around 1 million barrels a day, up from an increase of 900,000 barrels a day in 2013.  More »

Oil giants will pay more for UAE oil as 75-year pact ends

The largest U.S. and European oil companies will pay more for Abu Dhabi crude when the end of a 75-year partnership reduces their direct stakes in the emirate’s output, according to two people with knowledge of the matter.  More »

Oil forecasters see second year of price declines

Brent crude prices, the benchmark for half the world’s oil, will weaken for a second year in 2014 as U.S. output expands and threats to Middle East and North African supply ease, the most-accurate forecasters said.  More »

Several energy ministers say no OPEC cut needed

Ministers from Saudi Arabia, Kuwait and Iraq said OPEC needn’t cut production next year to make room for additional supplies from Iran, Libya and U.S. shale oil.  More »

IEA boosts 2014 global oil demand forecast on US recovery

A “reasonably robust recovery” and lower gasoline prices in the U.S. are helping stoke demand in the world’s largest oil user, the IEA said.  More »

OPEC pumps least crude in more than 2 years

OPEC reduced crude production in November to the lowest level in more than two years as output dropped below the organization’s 30 million barrel-a-day ceiling for a third month.  More »

Oil gains above $97 after US stockpiles drop

The price of oil edged higher above $97 a barrel Thursday as investors reacted to a drop in U.S. stockpiles, but concerns of oversupply in the Middle East capped gains.  More »

Iran plans to meet foreign oil companies to seek investment

Iran plans to meet with international oil companies as soon as March to try to entice investors to its energy industry once world powers lift sanctions, the Persian Gulf state’s oil minister said.  More »
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