Members of the Organization of the Petroleum Exporting Countries (Opec) should prepare for extra Iranian crude production when Western sanctions on Tehran are lifted, Iran's oil minister was quoted by state news agency IRNA as saying.
Two tankers will lift 1.3 million barrels of crude from east Libyan ports Hariga and Zueitina, oil officials said.
The Hariga port was expecting a tanker to lift 700,000 barrels of crude, an oil official said.
Opec's oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect.
In a mo
Iraq's oil minister said his country's oil exports should hit a record of about 3.1 million barrels per day in April as output from the country's southern fields stays strong and weather conditions improve.
Saudi Arabia has revved up crude production to its highest rate on record, feeding unexpectedly strong demand from foreign refiners and increased capacity at home.
Oil Minister Ali Al Naimi told reporters that the
When Saudi Arabia's oil minister Ali Al-Naimi says he does not want the kingdom to lose market share anymore, he really means it.
Iraq, Venezuela, Russia and Kazakhstan all saw their oil partially replaced by Saudi crude in As
Gulf Arab oil producer Oman hopes to boost its crude oil production by 5 per cent to 1 million barrels per day (mbpd) in 2015, a senior oil official said.
Oman is moving ahead with plans to pump more even thoug
The Organization of the Petroleum Exporting Countries (Opec) members' own versions of their oil output were for years greeted with such skepticism that the group resorted to publishing what others thought they were producing.
Growth in Saudi Arabia's non-oil private sector was almost unchanged in January, suggesting the plunge in oil prices is not so far proving a major drag on the economy, a survey of businesses showed on Tuesday.