Opec Meeting

Iraq's Minister of Oil and President of

The Organization of Petroleum Exporting Countries (OPEC) has decided to maintain its production levels for at least another six months, Saudi Arabia’s Oil Minister Ali al-Naimi told reporters Friday. The cartel maintained its collective output production level at 30 million barrels per day, which could continue to weigh on oil prices this year, as oversupply… Keep reading →

Le Tour de France 2014 - Stage Twenty One

Russian officials already in the unenviable position of dealing with the impact of Western sanctions on their national economy as reflected in a tumbling ruble – in spite of continuous Central Bank interventions – and capital outflows, now face the possibility of a recession looming in 2015, according to recent World Bank projections. Russia: Policy Uncertainty… Keep reading →

Iraq Signs Contracts With Foreign Oil Companies

Amid much hype and excitement, international oil companies that had been chomping at the bit for years to get into Iraq finally got their chance in 2009 when the country hosted its first post-Saddam Hussain oil field development bid rounds. After much confusion and a generally failed first bid round, the second resulted in several… Keep reading →

Oil Ministers Attend 127th OPEC Meeting

Apparently very little, according to traders and analysts polled by Bloomberg last week. The poll of 24 oil market observers had 22 predict Opec members would leave the current 30 million barrel per day production limit unchanged when they meet in Vienna on December 4th. Much has been made of the light, sweet barrels pushed… Keep reading →