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2009-11-25 14:17:26 - Malaysia Oil and Gas Report Q1 2010 - a new market research report on companiesandmarkets.com b/d by 2014. Regional oil production was just under 8.41mn b/d in 2001 and averaged an estimated 8.50mn b/d in 2009. Full Article at PR-Inside.com
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Global liquid fuel production, 2005-2009, left axis, together with spot oil prices, right axis. Source: Supply is average of EIA, IEA, and OPEC estimates. Full Article at Energy Bulletin
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OPEC president Eng Jose Maria Botelho de Vasconcelos of Angola opens the 154th regular meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna on September 9, 2009. View Photo »
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OPEC members, especially in the Middle East Gulf, are worried that higher oil prices could threaten the global economic recovery.
SOURCE: France 24 -
George Will had quite a few figures in his commentary that suggested there are no supply problems concerning oil. I think there are a few more figures that should be added to assess the oil supply situation. Full Article at Energy Bulletin
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According to a Reuters poll of ten top oil-tracking analysts and organizations, oil demand is predicted to rise by 1.3 million barrels per day (bpd) next year to 85.9 million bpd. Full Article at International Business Times
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LONDON, Nov 24, 2009 (AFP) - World oil prices diverged within a narrow range on Tuesday on lingering concerns about weak energy demand, analysts said. Full Article at Zawya.com
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OPEC president Eng JoseMaria Botelho de Vasconcelos of Angola (L) and OPEC Secretary General Abdalla Salem El-Badri (R) of Libya open the 154th regular meeting of the Organization of Petroleum Exporting Countries (OPEC) in Vienna on September 9, 2009. View Photo »
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OPEC members, especially in the Middle East Gulf, are worried that higher oil prices could threaten the global economic recovery and further strain relationships with consuming nations ahead of climate change talks in Copenhagen (in December).
SOURCE: Channel News Asia -
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LONDON/NEW YORK (Reuters) - Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis. Full Article at Reuters
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LONDON/NEW YORK (Reuters) - Growing world oil use will likely outpace the rate of new supplies in 2010, eroding the huge stockpiles of crude which have mounted around the world since the start of the global economic crisis. Full Article at The Washington Post
About OPEC
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AP Photo
President of the OPEC conference and Minister of Petroleum Jose Maria Botelho de Vasconcelos from Angola gestures as he speaks to journalists prior to the start of the 154th meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria,...
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Getty Images
Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdalla Salem El-Badri gives a press conference on July 8, 2009 to present the organization' World Oil Outlook 2009 report at OPEC headquarters in in Vienna.
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Getty Images
Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdalla Salem El-Badri gives a press conference on July 8, 2009 to present the organization' World Oil Outlook 2009 report at OPEC headquarters in in Vienna.
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Getty Images
Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdalla Salem El-Badri gives a press conference on July 8, 2009 to present the organization' World Oil Outlook 2009 report at OPEC headquarters in in Vienna.
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Reuters Pictures
Czech Republic's Industry Minister Vladimir Tosovsky (L) and OPEC President Jose Maria Botelho de Vasconcelos address a news conference after a "EU-OPEC energy dialogue" conference in Vienna June 23, 2009.
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Reuters Pictures
OPEC President Jose Maria Botelho de Vasconcelos listens during a news conference after a "EU-OPEC energy dialogue" conference in Vienna June 23, 2009.
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Reuters Pictures
OPEC Secretary General Abdullah al-Badri, Czech Republic's Industry Minister Vladimir Tosovsky and OPEC President Jose Maria Botelho de Vasconcelos (L-R) prepare for a news conference after a "EU-OPEC energy dialogue" conference in Vienna June 23, 2009.
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Getty Images
Organization of Petroleum Exporting Countries (OPEC) Secretary General Abdalla El-Badri (L) welcomes European Union Energy Commissioner Andris Piebalgs on June 23, 2009 for an EU-OPEC meeting in Vienna.
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Current Organization of Petroleum Exporting Countries (OPEC) President and Angolan Oil Minister Jose Maria Botelho de Vasconcelos (R) and Czech Minister of Industry Vladimir Tosovsky attend a press conference on June 23, 2009 after an EU-OPEC meeting in Vienna.
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Reuters Pictures
OPEC Secretary General Abdullah al-Badri listens during a news conference in the Organization of the Petroleum Exporting Countries (OPEC) headquarters following a meeting of OPEC oil ministers in Vienna May 28, 2009.
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Reuters Pictures
Angola's Oil Minister and OPEC President Jose Maria Botelho de Vasconcelos (L) and OPEC Secretary General Abdullah al-Badri listen during a news conference in the Organization of the Petroleum Exporting Countries (OPEC) headquarters following a meeting of OPEC oil ministers in Vienna Ma...
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Reuters Pictures
Angola's Oil Minister and OPEC President Jose Maria Botelho de Vasconcelos listens during a news conference in the Organization of the Petroleum Exporting Countries (OPEC) headquarters following a meeting of OPEC oil ministers in Vienna May 28, 2009.
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Reuters Pictures
Angola's Oil Minister and OPEC President Jose Maria Botelho de Vasconcelos listens during a news conference in the Organization of the Petroleum Exporting Countries (OPEC) headquarters following a meeting of OPEC oil ministers in Vienna May 28, 2009.
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Reuters Pictures
Angola's Oil Minister and OPEC President Jose Maria Botelho de Vasconcelos listens during a news conference in the Organization of the Petroleum Exporting Countries (OPEC) headquarters following a meeting of OPEC oil ministers in Vienna May 28, 2009.
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Getty Images
Current Organization of Petroleum Exporting Countries (OPEC) President and Angolan Oil Minister Jose Maria Botelho de Vasconcelos attends on May 28, 2009 a press conference after a regular meeting of OPEC members at organization headquarters in Vienna.
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Getty Images
Current Organization of Petroleum Exporting Countries (OPEC) President and Angolan Oil Minister Jose Maria Botelho de Vasconcelos (L) and OPEC Secretary-General Abdalla El-Badri (R) give a press conference on May 28, 2009 after a regular meeting of OPEC members at organization headquart...
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Getty Images
Current Organization of Petroleum Exporting Countries (OPEC) President and Angolan Oil Minister Jose Maria Botelho de Vasconcelos attends on May 28, 2009 a press conference after a regular meeting of OPEC members at organization headquarters in Vienna.
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Reuters Pictures
Head of Libya's OPEC delegation Shokri Ghanem arrives at the Organization of the Petroleum Exporting Countries (OPEC) headquarters for a meeting of OPEC oil ministers in Vienna May 28, 2009.
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Reuters Pictures
Angola's Oil Minister and OPEC President Jose Maria Botelho de Vasconcelos arrives at the Organization of the Petroleum Exporting Countries (OPEC) headquarters for a meeting of OPEC oil ministers in Vienna May 28, 2009.
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AP Photo
Jose Maria Botelho de Vasconcelos, President of the OPEC conference and Minister of Petroleum from Angola, smiles at a news conference following an extraordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, on Thursday...
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AP Photo
Jose Maria Botelho de Vasconcelos, President of the OPEC conference and Minister of Petroleum from Angola, speaks at a news conference following an extraordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, on Thursday...
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AP Photo
Jose Maria Botelho de Vasconcelos, President of the OPEC conference and Minister of Petroleum from Angola, arrives for an extraordinary meeting of the Organization of the Petroleum Exporting Countries, OPEC, at their headquarters in Vienna, Austria, on Thursday, May 28, 2009.
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Current Organization of Petroleum Exporting Countries (OPEC) president and Angola's Minister of Petroleum Jose Maria Botelho de Vasconcelos arrives in Vienna on May 27, 2009 on the eve of an OPEC formal output meeting in Vienna.
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Current Organization of Petroleum Exporting Countries (OPEC) president and Angola's Minister of Petroleum Jose Maria Botelho de Vasconcelos arrives in Vienna on May 27, 2009 on the eve of an OPEC formal output meeting in Vienna.
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Getty Images
Current Organization of Petroleum Exporting Countries (OPEC) president and Angola's Minister of Petroleum Jose Maria Botelho de Vasconcelos arrives in Vienna on May 27, 2009 on the eve of an OPEC formal output meeting in Vienna.
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Getty Images
Organization of Petroleum Exporting Countries (OPEC) Secretary-General Abdalla Salem El-Badri gives a press conference on July 8, 2009 to present the organization' World Oil Outlook 2009 report at OPEC headquarters in in Vienna.
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Energy bulls seem to be blindly betting on continued weakness in the dollar to fuel further gains, apparently ignoring the fact that almost everything else on the horizon is bearish to neutral, be it lackluster demand, excessive OPEC production, or receding geopolitical tensions from places like Iran an...
SOURCE: MarketWatch -
We’ve been talking about this in OPEC. Venezuela agrees and there are other countries, such as Iran and Russia that are also on-side with this idea
SOURCE: Energy Tribune -
There was not any strong fundamental factor for the move from US$75 to US$80. Now the market is looking for a fundamental story and OPEC is starting to make some noise
SOURCE: Financial Post -
Oil broke above resistance at $75. $80 is the next target although there is little in the way of fundamental support. OPEC is overproducing and even though there is talk of a severe winter, distillate stocks are at 26-year highs ... You have the November contract expiration. That could also weigh as it ...
SOURCE: International Business Times -
However, if the global economy recovers as the World Bank seems to think it will and, crucially, if international trade recovers with it, then OPEC will need to act promptly and decisively to raise its production once again in order to prevent a damaging repeat of last year's surge in oil prices towards...
SOURCE: United Press International -
We have visited some countries but it is different here. We feel grateful and believe that OPEC and Nigeria are going to strenghten our relationship
SOURCE: AllAfrica.com -
The new law is in the best interest of our country and will strengthen Nigeria's position in crude production and by extension, the OPEC in reaching its goal in the global demand and supply equation. We are proud to be part of OPEC and to identify with it to meet the economic survival and wellbeing of m...
SOURCE: AllAfrica.com -
The new law is in the best interest of our country and will strengthen Nigeria's position in crude production and by extension, the OPEC in reaching its goal in the global demand and supply equation. We are proud to be part of OPEC and to identify with it to meet the economic survival and wellbeing of m...
SOURCE: AllAfrica.com -
The timing of this visit, which is coming after we just completed the successful amnesty programme is very good for Nigeria. We want to take our rightful place in OPEC as a leading producer of oil and gas and the passage of the PIB will help us to achieve that effectively
SOURCE: AllAfrica.com -
Canada's oil sands are a key strategic resource that will contribute to the energy security of Canada, North America, and the world ... As the holder of the most significant oil resource outside of OPEC countries, Canada will continue to develop this resource in an environmentally responsible way.
SOURCE: Street Insider -
dismissed the IEA figures as 'biased' and said OPEC's own calculations showed that Saudi Arabia would lose $19 billion a year starting in 2012 under a new climate pact. The region would lose much more.
SOURCE: Jihad Watch -
This rally today really was prompted by two things: one, the revised demand forecast from OPEC, and the other, the continued weakening of the U.S. dollar
SOURCE: Energy Bulletin -
There's a lot of concern about OPEC compliance, but their production is still down about 3 million barrels a day year-on- year ... Countries that have spare capacity are the policy stalwarts, so we're not going to see uncontrolled slippage.
SOURCE: China Post -
If OPEC had shown better compliance, it would be a bullish report ... Despite better demand, it looks like stocks will continue to build next year.
SOURCE: FOX Business -
The amnesty offer has so much economic value for the country such that OPEC is happy with Nigeria once again. Our oil production has resumed in earnest with an increased output and contractors have all returned to site to continue with the installation and provision of oil infrastructure.
SOURCE: AllAfrica.com -
The dollar took a battering yesterday following a report in the UK press that OPEC was in secret talks with China, Japan, Russia and France to abandon pricing oil in dollars and move on to pricing in a basket of currencies
SOURCE: China Post -
The issues around the dollar are not so much what OPEC [Organization of the Petroleum Exporting Countries] will do, but rather the more fundamental questions, which have to do with the economic outlook in the United States and, of course, the fiscal picture in the United States, which is a very threaten...
SOURCE: Voice of America -
OPEC member Kuwait is not looking to replace the U.S. dollar with a currency basket in the trading of crude oil, a member of Kuwait's Supreme Petroleum Council.
SOURCE: International Business Times -
In December, OPEC will be looking at the market situation next year
SOURCE: Zawya.com -
Saudi Arabia has taken the brunt of a fall in oil prices and OPEC oil production cuts, and is more severely hit. The UAE, on the other hand, has fared relatively better
SOURCE: The National Newspaper -
This confirms that OPEC is going to continue to hold the line ... Broadly steady OPEC output combined with recovering demand will result in the gradual whittling away of the inventory overhang.
SOURCE: Business Standard -
This confirms that OPEC is going to continue to hold the line ... Broadly steady OPEC output combined with recovering demand will result in the gradual whittling away of the inventory overhang.
SOURCE: Business Standard -
At one point they had about 82 percent compliance, which is very good for OPEC
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the existence of more than 5 million barrels of daily OPEC spare capacity would lessen the negative effects on prices in case of any stoppage of oil supplies from Iran.
SOURCE: eTaiwan News
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