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OPEC & Crude Oil News is an EIN News Service for energy industry professionals. Constantly updated news and information about energy.
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Latest OPEC & Crude Oil News

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  • UAE says oil cuts should remain 7 Nov 2009 15:51 GMT
    ... Last Updated: November 07. 2009 7:23PM UAE / November 7. 2009 3:23PM GMT DUBAI // The ... // The UAE has joined a growing OPEC contingent that has been calling for the ... ended October 30 to 335.9 million barrels. “Crude oil stockpiles are near the upper limit of ...

  • Petroleum Complex Outlook for November 6, 2009 7 Nov 2009 03:00 GMT
    ... - An Excerpt from CRB'S Futures Market Service Crude oil prices corrected down to a 3-week low ... Libya's top oil official who said that OPEC may keep production quotas unchanged when it ...

  • Bullion reaches $1,100 but crude tumbles 7 Nov 2009 03:11 GMT
    ... Published: November 7 2009 02:00 | Last updated: November 7 2009 02:00 hit a fresh peak ... peak above $1,100 an ounce yesterday but crude oil prices fell as a disappointing rise in ... week. Jose Botelho de Vasconcelos, president of Opec, said oil prices were "more or less ...

  • Price of Kuwaiti crude oil mildly hikes 6 Nov 2009 14:37 GMT
    ... Nov 6 (KUNA) -- Price of Kuwaiti crude oil price increased 11 cents reaching the level ... of the bullish prices of the crude. Organization of the Petroleum Exporting Countries (OPEC) says some of the top hot issues ...

  • Weekly crude oil report: Nov. 2, 2009 3 Nov 2009 01:30 GMT
    ... Crude oil prices took a sharp turn last week, coming off of its yearly high ...

  • MCX crude oil succumbs to profit taking 4 Nov 2009 07:18 GMT
    ... Crude oil futures succumbed to profit booking in the ... Venezuela Energy Minister Rafael Ramirez said that OPEC should not increase oil production. ...

  • Crude Oil up after US and Chinese Manufacturing Rise, Dollar Falls 2 Nov 2009 19:50 GMT
    ... Crude Oil up after US and Chinese Manufacturing Rise, ... Emirates’ (the fourth largest oil producer from OPEC) Abu Dhabi National Oil Co. reportedly raised ...

  • OPEC basket price down 15 cents to USD 77.45 pb 6 Nov 2009 14:37 GMT
    ... Nov 6 (KUNA) -- The price of OPEC basket of twelve crudes retreated 15 cents ... to USD 77.60 the previous day, the Organization of the Petroleum Exporting Countries (OPEC) said on Friday. The annual average ... OPEC's economic bulletin said. Last week, US crude oil price settled at USD 80.00 pb apparently ...

  • OPEC weekly oil prices fall amidst slow U.S. growth 3 Nov 2009 00:52 GMT
    ... The weekly average prices of the Organization of Petroleum Exporting Countries (OPEC) dropped last week, falling by 0.61 U.S. ... the short term. Amid low demand for crude oil, prices would be significantly influenced by market ...

  • OPEC average oil price dips 3 Nov 2009 07:34 GMT
    ... OPEC on Monday said its weekly average price ... the short term. Amid low demand for crude oil, prices would be significantly influenced by market ...

  • Are Higher Prices the 'New Normal' for Crude Oil? 2 Nov 2009 22:17 GMT
    ... Oil prices have bounced more than 150 percent off of December 2008 lows but inventory levels ... fall for the next several years. Excluding OPEC countries (right chart), the decline rates quadruple from ...

  • Venezuela does not support increase in OPEC output quotas 3 Nov 2009 20:50 GMT
    ... Venezuela does not share increase in OPEC's production quota Delegates from more than 100 ... share" the position according to which the Organization of the Petroleum Exporting Countries (OPEC) should heighten production due to the increase of crude oil prices, as suggested by some member countries, ...

  • Oil Will Remain in Demand - Opec 4 Nov 2009 05:53 GMT
    ... Sopuruchi Onwuka — The western collaboration in the search for fuel alternative to ... to the Organization of Petroleum Exporting Countries (OPEC) as no energy policy will diminish the ... made it clear that the highly advertised crude oil revenue to member countries is ultimately spent ...

  • Suncor Energy Releases First Quarterly Results Following Merger With Petro-Canada 6 Nov 2009 07:50 GMT
    ... All financial figures are unaudited and in Canadian dollars unless noted otherwise. Certain financial measures ... feet of natural gas: one barrel of crude oil is based on an energy equivalency conversion ... performance, drilling results, facility reliability, changes in OPEC production quotas and successful execution of planned ...

  • Oil rises 2 pct on U.S. factory data, gold surge 3 Nov 2009 20:54 GMT
    ... NEW YORK (Reuters) - Oil rose nearly 2 percent to above $79 a barrel on Tuesday after ... McGillian of Tradition Energy in Stamford, Connecticut. Crude oil rose along with gold, which reached a ... the U.S. Department of Energy on Wednesday. OPEC member Venezuela said it saw no need ...


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