U.S. Shale Surge Threatens OPEC Strategy OPEC’s Nov. 30 output agreement to cut production by 1.2 million barrels a day may have put a floor under...
Nigeria, Algeria, others lost $1tn to oil crash – OPEC Nigeria, Algeria and other members of the Organisation of Petroleum Exporting Countries lost a cumulative revenue...
Stabilising Oil Market with OPEC’s $66.6bn Refineries Investment Member countries of the OPEC would need to invest $66.5 billion by 2021 to upgrade their refining capacity...
Gasoline Reaches Record High in New York; Exports Abroad Traders are now exporting gasoline and diesel from New York harbor, a region that normally relies on...
Nigeria’s Crude Oil Export to India Plunges 54% The Nigerian oil export to India dropped by 54 percent in January from a year ago. According to...
Oil Prices Fall to $56.25 Per Barrel Oil prices fell nearly one percent, yesterday, in response to growing evidence that United States production is rising and...
OPEC Countries Complying With Agreed Output cuts OPEC countries are largely complying with a landmark deal to reduce the global oil glut, the IEA said Friday,...
Top Oil Trader Vitol Paid Staff Dividend of $820 Million in 2015 Vitol Group, the world’s biggest independent oil trader, paid its top executives and staff...
OPEC Ministers Say the Market Might Need More Oil Cuts OPEC and other major crude-producing nations may need to extend output cuts into the second half...
OPEC Cuts Oil Production, But More Work Needed to Fulfill Deal OPEC cut output by 840,000 barrels a day last month, but has more work to...