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Iran wants Opec to pave way for its extra oil production when sanctions lifted

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.

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Two tankers to lift 1.3 m barrels of oil from eastern Libyan ports

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.

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Opec oil output surges on Saudi, Iraq boost

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

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Iraq oil minister says crude exports to hit record in April

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.  

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Saudi pumps up oil production to record high of 10.3 mbpd

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

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Libya's Agoco producing 317,000 bpd

  Libyan state firm Arabian Gulf Oil Company (Agoco) is producing 317,000 barrels per day (bpd), the highest level in the last two years, the company's spokesman said.   Libya now produces a

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Saudi wins back global market share with oil output push

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

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Oman hopes to boost crude production to 1 mbpd in 2015

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

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Opec comes cleaner on how much oil its members pump

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.

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Saudi non-oil growth unchanged; no oil impact yet

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. Business activit

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