Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Iraq Has the World’s Fifth-Largest Oil Reserves

Iraq ranks fifth among the countries with the largest crude reserves in the world in 2021, a CNBC survey said. According to CNBC, Venezuela ranked first with a reserve of 303.8 billion barrels, followed by the regional rivals Saudi Arabia and Iran with 258.6 and 208.6 billion barrels, respectively. Iraq, …

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A Watershed Moment that could Send Oil Prices to $100

Crude oil prices could reach $100 per barrel, according to Ninepoint Partners portfolio manager Eric Nuttall, the latest to add to a growing number of analysts expecting three-digit oil prices. “The oil market remains exceptionally tight,” Nuttall told Bloomberg, adding, “When we look at global oil demand, we’re back to …

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Oil Price Nears $83 as Fears over Omicron Ease

Global oil prices continued to gain ground above $80 per barrel on Friday, helped by a growing consensus that demand remained surprisingly resilient to the current Omicron-led wave of COVID-19 cases which spooked markets in late 2021. Brent crude futures, which traded close to $83 per barrel earlier on Friday, …

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