Iraq'.s bulging fuel oil exports have contributed to a glut.
Read More »OPEC Oil Price Drops by 1.3%
The price of OPEC’s basket of 13 crudes stood at $48.34 a barrel on May 3.
Read More »Iraq Calls for Bids for New Oil Refinery in Basra
Iraqi forces recaptured it in 2015 but it sustained heavy damage in the fighting.
Read More »U.S. Crude Production is Surging. Complicating OPEC’s Efforts to Rebalance the Oil Market
Exploration and production firms are still adding drilling rigs at an average of almost 10 per week.
Read More »Kuwait Energy to Be OPEC State`s First London-Traded Company
The Persian Gulf nation of Kuwait is the fifth-largest producer in the Organization of Petroleum Exporting Countries.
Read More »2 Refinery Rehab Projects Awaiting Funds
Bandar Abbas Refinery’s mazut production will be reduced to less than 10% of the total while sulfur output will fall to less than 1%.
Read More »Tehran to Host Iran Oil Show 2017
The oil show is the biggest energy exhibition in the Middle East in terms of the number of participants and size.
Read More »Russia Cuts Oil Output by 300.790 bpd
Russia has agreed to cut its oil output by 300.000 barrels per day under the OPEC deal signed in Vienna.
Read More »How Long Does OPEC Need to Cut Production?
The oil market needs more time to start using up stored inventories. which are on the verge of declining.
Read More »US Shale Oil Alone Cannot Meet the World`s Growing Demand for Crude
Many environmentalists and Democrats counter that Obama-era measures were critical to reducing America'.s contribution to climate change.
Read More »