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info about OPEC  and latest OPEC  news

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Definition: OPEC


OPEC stands for the Organization of Petroleum Exporting Countries. Represented by a group of countries, (OPEC) centered around middle east and founded in and around 1960 with a purpose to collaborate in the management of regulating production levels of oil to meet world demand.

OPEC also regulate the exportation of crude oil from member states, to the rest of the world and because of their ability to adjust production levels, OPEC possess a great deal of influence on the price of oil and associated political issues.













 


Prepare to celebrate Opec's demise
Financial Times
The days of Opec, the oil producers' cartel, are numbered. Unstable oil states, from Iraq to Venezuela, will be marginalised. The G8 statement on oil should have been optimistic. Technology has led to a revolution in energy supply.

05/21/2012 08:01 PM


Bloomberg

Iran plans to raise daily oil output by 1.5 million barrels by 2016
Tehran Times
According to OPEC's Monthly Oil Market Report, on average, Iran produced 3.576 million barrels of crude oil per day in 2011 and 3.544 million bpd in 2010. The country's oil production has steadily increased in 2012, rising to 3.758 million bpd in April ...
Caspian Sea Yields Oil, Iran Discovers AnewInternational Business Times AU
Iran makes first Caspian Sea oil find in more than a centuryThe Daily Star
Minister: Iran seeks to raise daily oil outputTrend.az
MENAFN.COM -FuelFix (blog)
all 35 news articles »

05/21/2012 06:54 PM


OPEC Say Iranian Oil Production down 12% due to Sanctions
OilPrice.com
By Charles Kennedy | Mon, 21 May 2012 15:08 | 1 A report published by the Organisation of the Petroleum Exporting Countries (OPEC) in May proves that the US sanctions are finally taking effect, as oil production, the backbone of the Iranian economy, ...
OPEC Oil Price Reaches Its Lowest Level of This YearCRIENGLISH.com
OPEC price down at USD 105.16 pbKuwait News Agency
Iran criticizes G8 pledge on oil market supply: reportPlatts
Trend.az -El Universal
all 7 news articles »

05/21/2012 04:16 PM


Al-Bawaba

UAE current account surplus quadruples
African Manager
The Opec member's 2010 balance of payments data has been revised. Last year's outcome is smaller than the IMF estimate for a surplus of 9.2 percent of GDP, released following regular consultations with the country in February and March.
UAE GDP up $62bn in 2011: IMFEmirates 24/7

all 7 news articles »

05/21/2012 03:34 PM


Asia-Pacific Crude-Rises on robust demand from Shell
Reuters Africa
Small non-OPEC producer Oman expects to raise its average oil and condensate production to 915000 barrels per day (bpd) in 2012, up from the 885000 bpd last year, the oil ministry said. CRUDE Price Prev Change JULY Brent 107.99 107.15 0.84 JULY ...
Analyst Predicts Boom in Demand, Higher Prices for OilStreetInsider.com (subscription)
Weekly Fundamentals - Crude's Downside Remains as Eurozone Turmoil Expected to ...NASDAQ
Oil below $100 expected to be short-livedbunkerworld (subscription)

all 8 news articles »

05/21/2012 12:05 PM


Iraq turns to US drones to protect oil platforms
Reuters UK
By Patrick Markey and Ahmed Rasheed | BAGHDAD (Reuters) - Iraq is buying unmanned drones from the United States to help protect its southern oil platforms as the OPEC nation ramps up production after the withdrawal of the last American troops, ...

and more »

05/21/2012 11:42 AM










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