Sunday 19 November 2017
 
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Iraq's Somo reaches 20m barrel DME milestone

Dubai Mercantile Exchange (DME), a leading commodities exchange in the Middle East, hosted its latest auction, on behalf of Iraq’s National Oil Company (Somo), taking the total number of barrels auctioned on behalf of Somo to 20 million.

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Iraq's Somo reaches 20m barrel DME milestone

Dubai Mercantile Exchange (DME), a leading commodities exchange in the Middle East, hosted its latest auction, on behalf of Iraq’s National Oil Company (Somo), taking the total number of barrels auctioned on behalf of Somo to 20 million.

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No light at the end of the Opec tunnel

Organization of the Petroleum Exporting Countries (Opec) and several non-Opec countries have finalised plans to extend production cuts for an additional nine months (through Q1 2018) without specifically articulating an exit strategy, said an ex

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Tank industry to discuss oil storage issues

The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel - a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been significant. Oil trade

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Tank industry to discuss oil storage issues

The price of a barrel of US oil which was averaging $104 nearly 12 months back, is around $44 per barrel - a major change by anyone’s reckoning. The effects of this price slump on the tank industry have been significant. Oil trade

More…

Brent weakens below $103 on rising supply

Brent crude oil futures drifted lower on Friday, further below $103 a barrel, as a strong dollar and plentiful supplies continued to pressure prices. October Brent crude was down 13 cents to $102.50 a barrel by 1122 GMT. US crude

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Oil below $109 as ME tension eases

Brent crude oil dropped below $109 a barrel on Friday, heading for its third straight weekly loss, with diplomatic efforts over Syria and Iran helping ease worries about risks to supply from the Middle East. The United States and

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Iraq oil output hits over 3.2m bpd, eyes 4m

  Iraq's oil production has exceeded 3.2 million barrels a day (b/d) so far this month and it hopes to hit capacity of 4 million b/d in 2014, its Oil Minister Abdul Kareem Luaibi said on Saturday.  

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Iran discovers giant oil field in south

Iran has discovered one of its biggest oil fields with high quality crude in a southern province, the semi-official Mehr news agency quoted an official as saying on Saturday. 'The preliminary studies show enormous crude reserves in thi

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Oil ‘could top $120’ in 2011

Oil should hit $120 a barrel or more this year as the market situation increasingly resembles 2008, with supplies struggling to keep pace with demand, oil tycoon T Boone Pickens said. Brent crude in London settled at a 28-month high of $99

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