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

The future of the energy industry in the United Arab Emirates is bright and will reach new heights in the future, the oil minister of the UAE, Suhail Al Mazrouei has said. At an event titled “Charting the Future of the UAE’s Energy Sector”, Al Mazrouei said that the UAE …

Saudi Arabia and Russia reaffirmed close cooperation in the OPEC+ oil cartel, and discussed Ukraine, grains and Syria at a foreign ministers’ meeting Thursday. Saudi Foreign Minister Prince Faisal bin Farhan said he spoke with his Russian counterpart about “the importance of deep coordination between the Kingdom and Russia in …

The United States wants to see a hike in oil production, including from OPEC countries, said a senior State Department official Monday. “As world economies recover, we’ll see more consumption. And therefore we’d like to see supply meet demand,” said Jose Fernandez, the US Undersecretary of State for Economic Affairs, …

OPEC Chief Haitham Al-Ghais broke bread with US shale bosses Monday night in his first meeting with the producers since he took the helm of the oil cartel in July. At the table, which included Occidental Petroleum Corp. CEO Vicki Hollub and Pioneer Natural Resources CEO Scott Sheffield, talk centered …

The Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, who visited Tripoli Wednesday, discussed issues related to the oil and gas sector, hailing Libya as one of the most important major partners in OPEC. The Libyan Minister of Oil and Gas, Mohammed Oun, and the Head of …

OPEC’s crude oil production for February was, on average, 150,000 bpd more than it was in January, a Reuters survey found on Tuesday. OPEC’s February crude oil production rose to 28.97 million bpd, the survey said, but is still 700,000 bpd less than it was in September. OPEC+–responsible for producing …

Oil prices fell in morning trade on Tuesday on a strong dollar and concerns about further monetary tightening by the US Federal Reserve. Brent, the benchmark for two thirds of the world’s oil, was trading 1.05 per cent lower at $83.19 a barrel at 8.37am UAE time. West Texas Intermediate, …

Haitham Al Ghais, Secretary General of the Organisation of the Petroleum Exporting Countries (OPEC) has called upon the oil industry to get united and be more vocal in the face of criticism that the industry is a major polluter. He said this to a gathering of delegates at the Middle …

OPEC remains flexible and can alter its oil-production strategy if market conditions change, according to Saudi Arabia’s energy minister. “We are flexible enough to adjust OPEC decisions if needed,” Prince Abdulaziz bin Salman said at a conference in the kingdom on Monday. He reiterated that the group’s policies are determined …

Oil prices posted weekly losses as strong US economic data sparked concerns of further interest rate increases, which in turn could further slow the economy and lead to a slump in crude demand. Brent, the benchmark for two thirds of the world’s oil, shed $2.14 to settle 2.51 per cent …