All about OPEC

Venezuela's President Nicolas Maduro speaks during a news conference at Miraflores Palace in Caracas
By Edition On Monday, January 5th, 2015

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

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...

By Edition On Thursday, December 11th, 2014

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...

By Edition On Thursday, December 11th, 2014

Saudi Arabia says ‘Why should I cut production?’ as crude falls

LIMA, Peru - Saudi Arabia’s oil minister indicated the nation isn’t planning to cut production even as crude fell to its lowest since 2009. “Why should I cut production?” asked the minister, Ali Al-Naimi, More...

By Edition On Wednesday, November 26th, 2014

Venezuela wants oil price back up to $100 a barrel

VIENNA, Austria - Venezuela wants oil prices to return to $100 a barrel, the country’s foreign minister said on Tuesday, ahead of a meeting of the Organization of the Petroleum Exporting Countries (OPEC). Speaking More...