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Oil dropped sharply from near $120 a barrel

Oil dropped sharply from two and half year highs, near $120 a barrel on Thursday, following Saudi Arabia's assurance it could fill any Libyan...

Are Oil Majors Ready to Become Part of The Climate Change...

The list of companies making deep pledges on the environment is growing longer by the day. About one-quarter of Fortune 500 businesses now have...

OPEC raises 2011 oil demand forecast

The Organization of Petroleum Exporting Countries raised on Monday its forecast for global oil demand for this year. OPEC said it now expects world oil...

2012 global oil demand growth forecast lowered

International Energy Agency said it expects global oil demand to grow by 1.1 million barrels a day in 2012, which is lower than its previous estimate

Oil rallies as stockpile growth slows

Oil rallied in early Wednesday trade in Asia after the biggest two-day slump in a month as U.S. industry data showed the pace of...

Oil advances on escalating Gaza conflict

Price of Brent crude reached almost $110 per barrel today, while the growing tension turned into violence between Palestine an Israel. This brought uncertainties...

Oil production freeze talks in Doha have run into some last-minute...

Oil production freeze talks in Doha between some of the world's largest oil producers have run into some last-minute trouble after Iran announced it...

S&P Global Survey: Middle East Crude Prices Reflect Collapsing Oil Markets

A survey of different crude market participants conducted yesterday by S&P Global Platts speaks volumes about the plunge in official selling prices (OSP) of...

OPEC raises 2013 forecast for world oil demand

Global demand for oil is now expected to grow more than previously estimated, according to the Organization of the Petroleum Exporting Countries monthly report...

Saudi Arabia, Russia and two other countries agree on oil production...

Saudi Arabia's oil minister has agreed to freeze oil production at January levels, indicating that the country may be willing to reassess its "lower...

COVID-19 & OPEC – What Is The New Normal?

Refinitiv released a special report.pdf on Covid-19 and the implications on global oil markets. Covid-19 has significantly impacted global economic outlook and oil demand as global...

Confidence Returning to Oil and Gas Recruitment as Oil Price Stabilises

A review of the employment environment in the energy sector by Petroplan has found that, despite a major contraction in the value of the...

OPEC pumps 28.94 million barrels per day in November

The Organization of the Petroleum Exporting Countries(OPEC) crude oil production rose to 28.94 million barrels per day (b/d) in November, an increase of 50,000...

Recovery in Dubai crude price provides some relief to upstream producers...

Moody's Investors Service says the recovery in the price of Dubai crude will provide some support to upstream oil companies, which have seen their...

Oil Prices Push up after OPEC’s Production Cut

The price of Brent crude, the international benchmark for oil prices, jumped above $52 a barrel on Thursday after the Organization of the Petroleum...

Oil briefly rallying above $50

Crude-oil futures rose Tuesday briefly rallying above $50 a barrel for the first time in five weeks on evidence that members of the OPEC...

Exploration, development spending fuels growth in worldwide oil and gas reserves

As a result of growth in Asia-Pacific gas reserves, investments in Canada’s oil sands and the dramatic increase of US shale reserves, worldwide oil...

UAE to chair OAPEC by 2010

The UAE will be a chair of the Arab Petroleum Exporting Countries (OAPEC) from 2010 in the framework of rotational presidency of the OAPEC...