All about OPEC

oil-rig
By Edition On Wednesday, December 27th, 2017
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Oil hits $60 a barrel for the first time in 2.5 years

HOUSTON - Oil prices spiked to their highest level in two and a half years after a pipeline exploded in Libya. Libya's state-run National Oil Corporation said the explosion jeopardized output by up to 100,000 barrels More...

Vienna
By Edition On Wednesday, November 30th, 2016
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OPEC reaches deal to cut oil production

VIENNA - OPEC representatives reached a deal to cut oil production after months of wrangling Wednesday, in an effort to lift sagging prices and reassert the cartel’s influence over a market increasingly dominated More...

Oil spill
By Edition On Wednesday, February 3rd, 2016
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U.S. supplies OPEC with oil in Curaçao after 40 years of export ban

WILLEMSTAD – According to Bloomberg Business, the U.S. is now supplying OPEC with crude oil. Petroleos de Venezuela SA (PDVSA) received a cargo of West Texas Intermediate crude at the end of January at a terminal More...

Oil
By Edition On Wednesday, January 27th, 2016
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Iran says Venezuela meeting with OPEC will have a negative impact

CARACAS, TEHERAN - Venezuela has called an emergency meeting to discuss steps to boost oil prices, minimal since 2003. But Iran and the Persian Gulf OPEC members have refused to call a special session. The Iranian More...

Oil Barrels with Red Arrow isolated on white background. 3D render
By Edition On Wednesday, February 11th, 2015
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The end of OPEC? Oil prices could fall to $20 per barrel

Despite the recent rise in oil prices, it is possible that in the near future it could be reduced to $ 20 per barrel, according to a report by Citigroup. Although in recent weeks the global downturn in spending More...

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By Edition On Monday, January 12th, 2015
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Venezuela and Saudi Arabia cooperate to stabilize oil prices

WILLEMSTAD - During the visit of the Venezuelan delegation to Saudi Arabia, as part of the tour of President Nicolas Maduro to the member countries of the OPEC, Riyadh and Caracas agreed to cooperate to achieve More...

oil refinery
By Edition On Wednesday, January 7th, 2015
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Oil steady above $50 as investors take stock after slide

Brent crude oil recovered slightly after falling below $50 (33 pounds) a barrel on Wednesday for the first time since May 2009, as traders took stock after a sharp slide since the start of the year. A growing supply More...

Venezuela's President Nicolas Maduro speaks during a news conference at Miraflores Palace in Caracas
By Edition On Monday, January 5th, 2015
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Venezuela’s Maduro to visit China, OPEC nations amid cash crunch

CARACAS - Venezuelan President Nicolas Maduro said on Sunday he will visit China and several unspecified OPEC countries during a weeklong tour meant to improve the South American nation's finances, which have More...

oil refinery
By Edition On Monday, December 29th, 2014
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Oil price goes down again

Oil prices were under pressure again today. After initial recovery the main measures dropped at the beginning of the evening again to its lowest level in years. The price of a barrel of Brent crude, the benchmark More...

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By Edition On Thursday, December 11th, 2014
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OPEC ‘effectively dissolved’; oil will slide to $50

OPEC has lost its competence, as it failed to stabilize oil prices at the last meeting, according to Bank of America. It warns oil will slide to $50 a barrel leading to wild prices, where only rich Middle East states More...