Wednesday 23 April 2014
 
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Opec

IEA slashes global oil demand growth forecast

The International Energy Agency (IEA) has revised upwards its forecast for global oil demand growth in 2014 to a modest 1.5 per cent on the back of a more robust outlook for global economic growth, a report said. The IEA now sees

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Oil market expected to stay balanced this year: Opec

Global supply and demand for crude oil should continue to be fairly balanced this year, the secretary general of Opec said, signalling the group is likely to leave its existing output ceiling in place at its June meeting. "Lo

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Opec production plunges to 3-year low in March

The oil production from the Organization of the Petroleum Exporting Countries (Opec) plunged 550,000 b/d from February to 29.56 million b/d in March - its lowest level since mid-2011, according to the latest Platts survey of Opec and oil industr

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Opec production plunges on Iraq exports setback

Opec's oil output fell in March to its lowest since December, a Reuters survey found on Tuesday, as Iraq's oil revival suffered a setback and outages cut output in African producers. Supply from the Organization of the Pet

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Qatar spending to rise 3.7pc to $60 billion

Qatar plans to increase government spending by 3.7 percent to 218.4 billion riyals ($59.98 billion) in the 2014/15 fiscal year, the QNA state news agency said on Sunday, quoting from a budget approved by the country's ruler. T

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Opec raises forecast for 2014 global oil demand

World oil demand will increase more than expected in 2014, Opec said on Wednesday, raising its prediction for a second straight month as economic growth picks up in Europe and the United States.   The Organizatio

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Opec output soars on higher Iraq exports

Crude oil production from the Organization of the Petroleum Exporting Countries (Opec) climbed by 240,000 barrels per day (bpd) to 30.11 million bpd in February from 29.87 million bpd in January following a surge in Iraqi exports, said a report.

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S Korea to pay Iran $550m under nuke deal

South Korea will transfer $550 million to Iran in its first back oil payment under an interim nuclear deal that eases sanctions on Tehran, sources with direct knowledge of the matter said on Thursday. The payment on Friday will co

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Opec oil production hits new high in Feb

Opec's oil output has risen further in February from December's two-and-half-year low, due to more shipments from Iraq and Angola, and further upward creep in Iranian exports, a survey found. Output from the Organisation o

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Opec output soars to 29.87m bpd in Jan

Crude oil production from the Organization of the Petroleum Exporting Countries (Opec) rose 150,000 barrels per day (b/d) to 29.87 million b/d in January from 29.72 million b/d the previous month as an increase of 280,000 b/d in still-beleaguere

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