Opec oil supply in June has climbed to a three-year high due to record or near-record output from Iraq and Saudi Arabia, a Reuters survey found, underlining the focus of the group's top exporters on market share.
The boost fro
The value of Opec members' petroleum exports fell below $1 trillion in 2014 for the first time since 2010, according to its annual statistical report, illustrating the impact of last year's slump in oil prices on the producer group.
If the United States does not lift its 40-year ban on crude exports, Iran could soon be competing in global markets that would be mostly shut to US oil companies, a report prepared for the head of the Senate energy committee said.
Saudi Arabia’s April crude exports fell by 161,000 barrels per day (bpd) as domestic refiners processed more crude, official data showed.
Exports fell to 7.737 mbpd from 7.898 million in March when they h
Russia will begin importing Iranian oil under a long-heralded oil-for-goods barter arrangement in the coming week, Iran's oil minister was quoted as saying, more than a year after negotiations began.
The Kremlin announced in A
Iraq's oil exports, already running at record highs, may rise a further 100,000 barrels per day (bpd) this month thanks to the launch of a new Basra Heavy crude grade, oil minister Adel Abdel Mahdi said.
Oil exports from Iraq rose to a record average of 3.145 million barrels per day (mbpd) in May from 3.08 million the previous month, the oil ministry said.
A record 2.694 mbpd were exported from the southern Bas
Saudi Arabia's crude exports rose in March to their highest in almost a decade, official data showed on Monday, a sign of unexpectedly strong global demand as the top oil exporter revved up its output to the loftiest rate on record.
State-owned Emirates Global Aluminium said on Tuesday its exports would fall to 77 per cent of its production by 2017 as a result of a rise in local demand.
"There will be five new plants in Abu Dhabi," chief executive A
Libya's Arabian Gulf Oil Co (Agoco) is producing 230,000 to 260,000 barrels per day (bpd), a company spokesman said, down some 35,000 bpd because a protest closed the Nafoura oilfield.
The company's por