Organization of Petroleum-Exporting Countries | Al Bawaba

Organization of Petroleum-Exporting Countries latest

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said. (Shutterstock)

March 31st, 2019 - 07:59 GMT

Oil Prices Report Biggest Quarterly Rise in a Decade

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said.

The move has been a long time coming. Saudi authorities have slowly unrolled a plan to liberalise the market spanning a decade, and pursued a long- term reform agenda.

September 22nd, 2014 - 03:55 GMT

An impending frenzy? Liberalization of Saudi stock market to usher 'new era' in GCC investments

For now, however, the US-led surge in supply and weak demand have seen traders start to store additional barrels as they wait for prices to recover.

September 14th, 2014 - 03:55 GMT

The pendulum is swinging? Falling oil prices shifts energy balance in favor of the West

Al Bawaba

September 10th, 2014 - 02:39 GMT

Worried about a downslide? Saudi Arabia asks OPEC to cut oil output

Al Bawaba

August 14th, 2014 - 11:46 GMT

Out of control: the ISIS and the oil market

To counter supply outages in Iraq and among other OPEC producers, Saudi Arabia has maintained a high level of oil output

August 12th, 2014 - 03:55 GMT

Profiteering off regional tensions? Saudi Arabia to pump more oil in 2014

“The market has become more complacent about supply again. But complacency is dangerous. Given the geopolitical tensions, a spike in oil prices cannot and should not be ruled out.”

August 11th, 2014 - 10:35 GMT

Let's wait and see: oil prices 'complacent' with US military strike on Iraq

Al Bawaba

August 4th, 2014 - 12:20 GMT

ISIS takes control of Iraq's largest dam

Al Bawaba

August 1st, 2014 - 05:50 GMT

On ISIS, Maliki criticized by own Iraqi FM

The report additionally forecast that Saudi oil reserves will rise to as much as 273 billion bbls by 2017.

July 31st, 2014 - 03:55 GMT

Saudi oil output to remain high by 'historical standards'

Al Bawaba

July 24th, 2014 - 09:22 GMT

OPEC exports largest share of petroleum to Asian and Pacific countries in 2013

Last month the Paris-based International Energy Agency too conceded that the US was the biggest producer of oil and natural gas liquids.
In view of the growing US supplies, the OPEC too is cutting forecast of demand for its own oil by 300,000 barrels a day next year.

July 13th, 2014 - 10:29 GMT

A defining moment has arrived: why demand for OPEC oil will never be the same

Historically, Iran’s economy has been heavily dependent on oil, and the fluctuations of oil prices and exports over the years have directly influenced the government’s budgets and actions.

July 13th, 2014 - 03:55 GMT

True competition with Saudi Arabia? Iran promises an economy independent of oil