UAE Plans to Lift Oil Production Capacity in 2013

The United Arab Emirates plans to raise its oil production capacity to 3 million barrels a day, from the current 2.8 million, during the current year, the country’s oil minister Mohammad Al-Hamli said Wednesday. Research additional information: Oil Prices Strengthen; Goldman Sachs See $45 by October Oil prices strengthened in recent trading sessions on a […]

OPEC Oil Production climbs to 31.27 million barrels per day in February

Crude oil output from the Organization of the Petroleum Exporting Countries (OPEC) climbed by 400,000 barrels per day (b/d) to 31.27 million b/d in February from 30.87 million b/d in January, the highest volume from the 12 producing countries since the autumn of 2008, a Platts survey of OPEC and oil industry officials and analysts […]

ADNOC announces cut in crude oil prices for August shipments

Abu Dhabi National Oil Company ‘ADNOC’ announced today reduction of shipments of crude oil to its customers for the month of August by 5 percent for each of Murban and Lower Zakum, while by 8 per cent for Umm Shaif and Upper Zakum, according the official news agency WAM. Research additional information: Oil Prices Strengthen; […]

OPEC likely to increase oil production

OPEC oil ministers are set to hold a regular ministerial meeting in Vienna on June 8, to mull the market’s supply and demand and a possible new output ceiling. The Organization of the Petroleum Exporting Countries should take a decision to increase its oil production, in order to meet higher demand expected in the second […]

ADNOC announces 10% cuts in oil allocations in April

The Abu Dhabi National Oil Company (ADNOC) announced today a 10pc cut in Murban allocations to its clientele for April, 2011. The moves came in accordance with the OPEC decision to reduce production. Research additional information: Oil Prices Strengthen; Goldman Sachs See $45 by October Oil prices strengthened in recent trading sessions on a decline […]