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News // Middle East and OPEC

OPEC Output Cuts - To Be Continued?

OPEC's president Angola believes new cuts are irrelavant, because the influence of the previous curbs should be reseached, but other OPEC members are not that confident
05 March 2009 , 09:35Ksenia Kochneva14720

CGES Says OPEC Output Cuts Will Hardly Up Oil

The OPEC cartel will find it "extremely difficult" to boost oil prices by cutting output because of the uncertain economic climate, energy consultancy CGES said on Monday
24 February 2009 , 08:28Ksenia Kochneva12480

OPEC Members Carry Out 65% of Production Cuts So Far

Members of the Organization of the Petroleum Exporting Countries have implemented nearly two-thirds of the production cuts of 4.2 million barrels per day that they agreed to last September, an OPEC report showed Friday
16 February 2009 , 20:38Ksenia Kochneva11990

OPEC May Cut Output Again in March

Iraqi oil minister predicts OPEC will cut production in March
10 February 2009 , 11:49Ksenia Kochneva10420

OPEC Postpone 35 Oil Projects

OPEC nations have collectively postponed 35 oil drilling projects as low crude prices deter investment, a top OPEC official reported on Monday
10 February 2009 , 11:41Ksenia Kochneva13770

Deutsche Bank Predicts OPEC Cuts Won't Boost Oil Prices

Adam Sieminski, chief energy economist for Deutsche Bank told Reuters that the situation is difficult, and the previous cuts had effect
22 January 2009 , 12:0711800

Crude Oil Futures Gain A Bit In Price

The reason is expected additional production cuts by OPEC
14 January 2009 , 12:33Ksenia Kochneva11520

OPEC Oil Prices Rebound Slightly

The weekly average prices of OPEC rebounded slightly above $40 per barrel last week to $43.99
13 January 2009 , 12:42Ksenia Kochneva11260

Ecuador to Cut Foreign Cos' Oil Production

Ecuadorian President Rafael Correa warned that to comply with the cut in oil production ordered by OPEC, the government will reduce the volume produced by a number of foreign companies operating in Ecuador
31 December 2008 , 08:21Ksenia Kochneva13010

Eni To Develop Irani Oil Field

Bloomberg reported that Italian company gave its agreement to the third phase of Irani Darkhovin oil field
25 December 2008 , 09:55Ksenia Kochneva12350

Kuwait To Assess Investments in Energy Sector

Kuwaiti oil minister said that his country had to make a few amendments to its energy strategy
23 December 2008 , 08:30Ksenia Kochneva15700

OPEC's President Said Oil Prices Reached The Minimum

Oil prices have found a floor around current levels, OPEC President Chakib Khelil told Reuters on Friday
19 December 2008 , 15:32Ksenia Kochneva9680

OPEC Cuts Supplies By 2 Mln. Barrel a Day

The news was announced by the Oil Minister of Saudi Arabia
17 December 2008 , 11:48Ksenia Kochneva10740

OPEC Consider Russian Membership

OPEC could consider Russian membership to the cartel at a meeting today
17 December 2008 , 10:44Ksenia Kochneva12340

OPEC Wants Extension or Output Cut

Algerian Oil Minister Chakib Khelil, the current president of OPEC, urged Russia, Norway and Mexico to join or cut their crude production to show solidarity with the group
03 December 2008 , 12:29Ksenia Kochneva16380

OPEC Delayed Production Cut Announcement

The members agreed to "take any additional action ... to balance oil supply and demand, and achieve market stability" during their Dec. 17 extraordinary meeting in Oran, Algeria
01 December 2008 , 12:18Ksenia Kochneva15390

OPEC Seeks for Help from Non-Members

OPEC secretary-general Abdalla El-Badri said the group would seek help from nonmembers Russia, Mexico and Norway in restraining oil supply
01 December 2008 , 10:15Ksenia Kochneva15950

OPEC to Make Further Cuts

Having failed twice in two months to calm plunging oil markets, OPEC ministers are set to weigh another round of steep production cuts
28 November 2008 , 09:01Jo Amey10060

Oil Price Concerns Downplayed by UAE Leader

The president of the United Arab Emirates is downplaying concerns about falling oil prices ahead of an emergency OPEC meeting later this week
27 November 2008 , 11:43Jo Amey11850

OPEC Cute May Not be Followed by Nigeria

Nigeria have expressed that they may not feel obliged to carry out any further cuts in its daily crude oil production unless other OPEC member effect the cuts earlier agreed on by the body
27 November 2008 , 11:39Jo Amey8640