Organization of Petroleum-Exporting Countries | Al Bawaba

Organization of Petroleum-Exporting Countries latest

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said. (Shutterstock)

March 31st, 2019 - 07:59 GMT

Oil Prices Report Biggest Quarterly Rise in a Decade

OPEC compliance with the agreed cuts stood at 94 percent, while non-OPEC was at 51 percent in February, the International Energy Agency (IEA) said.

"Today we are trying to look for alternatives to export Iraqi oil," said Shukri, whose OPEC member country is home to the world's fourth largest oil reserves

February 21st, 2012 - 08:28 GMT

Closing Hormuz will halve Iraq's oil exports

The rial has been falling for almost a year since Mr. Ahmadinejad slashed costly fuel and food subsidies, stoking inflation

January 18th, 2012 - 08:43 GMT

Currency crisis in Iran as sanctions start to bite

Iranian rials

January 4th, 2012 - 09:55 GMT

Iranian rial makes some recovery

The West has imposed the increasingly tight sanctions over Iran’s nuclear programme, which Tehran says is strictly peaceful but Western countries believe is geared towards building an atomic bomb

January 4th, 2012 - 09:13 GMT

Sanctions put screws on Tehran

Economies in the Gulf should continue to benefit from healthy income from their crude trade

January 2nd, 2012 - 08:04 GMT

Oil will keep GCC warm if the world freezes over

The announcement over the possible closure of the only access channel for eight countries to foreign markets, pushed up international oil prices on Tuesday although they slipped back yesterday in thin trade and as the market dismissed Iran’s threat as rhetoric

December 29th, 2011 - 05:10 GMT

Iran oil route easy to close

Crude trading volumes remained reduced in the holiday week, with Brent volume on Tuesday 76 percent below the 30-day average

December 28th, 2011 - 09:43 GMT

Brent crude oil steadies above $109, Iran threat supports

Al Bawaba

December 28th, 2011 - 03:39 GMT

Why gold is the world s No. 2 reserve asset?

In Iraq, the increase in stability and decrease in violence could help the government ramp up its oil production capacity, but the country’s infrastructure may not be equipped to support an increase in production

December 15th, 2011 - 05:55 GMT

Libya, Iraq 'will impact on oil trends in 2012'

"Saudi Arabia is the central banker of the oil market and the decision that they will bring more oil to the market is definitely a good one," Birol said

December 15th, 2011 - 10:34 GMT

To tame oil prices, follow Saudi's steps

Al Bawaba

December 15th, 2011 - 09:30 GMT

Oil prices jump on rumors Iran to hold maneuvers in Strait of Hormuz

Estimates of global oil demand rise from 88.3 million bpd in 2010 to 95 million bpd in 2016, the IEA said in its twice-yearly estimates for the medium term

December 13th, 2011 - 05:11 GMT

Oil market set to be more balanced in 2012