OPEC

oil rig and tanker

IEA Reports Global Oil Demand to Rise

An improving global economic forecast for 2015 has led to projected demand growth for crude oil of 1.4 million barrels a day. That was up from estimated growth of 1.2 ...
Read Full Story »
Gasoline pump

Will Sharp Rise in Crude Increase Gasoline Prices?

The turmoil in Iraq is raising concerns about the ability of the country to continue delivering about 3.3 million barrels of crude a day to the global supply. Iraq is ...
Read Full Story »
Oil pumpjack

OPEC Forecasts Higher Crude Demand in 2014

The Organization of Petroleum Exporting Countries (OPEC) released its Monthly Oil Market Report Wednesday morning, and the headline number is an increase of 50,000 barrels a day to the cartel's ...
Read Full Story »
153715598

OPEC Forecasts 2014 Demand Growth for Crude Oil

In the February issue of its Monthly Oil Market Report, the Organization of Petroleum Exporting Countries (OPEC) has increased its estimate of global crude oil demand by 50,000 barrels a ...
Read Full Story »
Oil pumpjack

Does OPEC Still Have Any Influence on Oil Markets?

The Organization of Petroleum Exporting Companies (OPEC) has lost its mojo. Actually, it’s been disappearing for years and most people are just beginning to notice. The cartel has not controlled ...
Read Full Story »
iran map

Iran Threatens Price War: Oil at $20 a Barrel?

At the final meeting for 2013 of the Organization of Petroleum Exporting Countries (OPEC), Iran's oil minister has threatened to increase his country's output even if prices drop to $20 ...
Read Full Story »
oil rig and tanker

OPEC Production Stays High, Prices Falling

The dramatic production increase from U.S. shale plays in North Dakota, Montana, and Texas have had little impact on the amount of oil produced by members of the Organization of ...
Read Full Story »
Oil spill

Full Iran Resolution Could Send Crude Down Under $90, Maybe Down to $80

This weekend's deal with Iran could be a monumental shift of the international tides. Unfortunately, it could also be a monumental mistake as some international leaders have voiced. 24/7 Wall ...
Read Full Story »
Oil Tanker

OPEC Outlook Slights North American Shale

In the 2013 edition of its World Oil Outlook, the Organization of Petroleum Exporting Countries (OPEC) said that it expects the nominal price of its reference basket to average $110 ...
Read Full Story »
153715598

IEA Lowers Oil Demand Estimates; OPEC Stands Pat

The International Energy Agency (IEA) today lowered its oil demand growth forecast from 930,000 barrels a day in 2013 to 900,000 barrels a day and cut demand growth for 2014 ...
Read Full Story »
153715598

OPEC Oil Revenues Near $1 Trillion Again in 2012

The Organization of Petroleum Exporting Countries (OPEC) earned $982 billion in net oil export revenues in 2012 according to the latest report from the U.S. Energy Information Administration. The total ...
Read Full Story »
Oil spill

Oil Prices — Whatever Happened to Fracking?

The recent spike in the price of oil shows how quickly day-to-day worries about supply make longer-term supply issues academic. After months of comments and analysis about how shale and ...
Read Full Story »
Oil pumpjack

Demand for OPEC Crude to Fall in 2014

In the July release of its Oil Market Report, the Organization of Petroleum Exporting Countries (OPEC) for the first time estimates that demand for the cartel’s crude will decline in ...
Read Full Story »
Oil price fall graphic

Crude Oil Futures Heading Lower on Rise in OPEC Output

The Organization of Petroleum Exporting Countries (OPEC) produced 30.46 million barrels of crude every day last month, well above its agreed quota of 30 million barrels a day. The message: ...
Read Full Story »
Oil Tanker

OPEC Maintains Lower Demand Forecast; Oil Futures Dive

The Organization of Petroleum Exporting Countries (OPEC) released its May Oil Market Report this morning. The cartel did not materially change its forecast for global demand growth of 800,000 barrels ...
Read Full Story »