Tag: OPEC

Friday, July 1st 2011 - 12:51 UTC
Argentina is promoting the idea of an OPEC-like for lithium

Argentina is promoting the idea of an OPEC-like cartel for itself, Bolivia and Chile, which together control 85% of the world's reserves of lithium, a key component in electric car batteries.
Thursday, June 23rd 2011 - 23:19 UTC
Release of strategic reserves (to counter Libya’s absence) rattles world oil market

Oil rose in New York, recovering from a plunge sparked by an International Energy Agency announcement that its members will release crude from strategic reserves.
Thursday, June 9th 2011 - 05:42 UTC
OPEC fails to reach agreement on production targets for the first time in 20 years

Oil rose for a third day in New York after OPEC failed to reach an agreement on production targets for the first time in at least 20 years and U.S. crude inventories fell more than analysts forecast.
Tuesday, April 5th 2011 - 09:18 UTC
Crude at highest in 30 months pushed by US recovery and political turbulence

Oil climbed to the highest level in 30 months in New York on Monday on speculation that US economic growth may support demand and a protracted conflict in Libya will curtail supply.
Wednesday, March 9th 2011 - 05:22 UTC
Oil prices ease as OPEC begins talks to increase output replacing Libya

Oil dropped for a second day in New York as members of the Organization of Petroleum Exporting Countries considered talks about increasing production because violence is disrupting supplies from Libya.
Tuesday, March 1st 2011 - 06:25 UTC
Most Libyan oilfields no longer under control of Gadaffi

Most of Libya's oilfields are no longer under control of Libyan leader Colonel Muammar Gaddafi, the European Union's energy commissioner said on Monday.
Wednesday, February 23rd 2011 - 07:02 UTC
OPEC promises to compensate for any oil drop off by unrest in Middle East

Trying to calm turbulent oil markets, Saudi Arabia's Oil Minister said on Tuesday that the Organisation of the Petroleum Exporting Countries (OPEC) was ready to pump more oil to compensate for any drop-off caused by unrest in the Middle East.
Wednesday, February 2nd 2011 - 18:06 UTC
In spite of 100 years of production, Venezuela claims world’s largest proven oil reserves

Venezuela holds 297 billion barrels of proven oil reserves, most of it in tar sands but sufficient to be ahead of Saudi Arabia considered by world experts the number one country in reserves.
Sunday, December 12th 2010 - 23:31 UTC
Saudi’s 70/80 US dollars a barrel stance prevails at OPEC meeting in Ecuador

Leading OPEC producer Saudi Arabia said it still favoured a 70-80 US dollars price range for oil, a restatement of a two-year-old policy that will be welcomed by consumer nations worried that rising oil prices may get out of control and hamper global economic recovery.
Tuesday, September 14th 2010 - 03:55 UTC
OPEC born in Baghdad in 1960 with five members, changed the energy world

The Organization of Petroleum Exporting Countries turns 50 years old Tuesday having survived a tumultuous history of wars, embargoes and in-fighting. The world’s oldest and largest energy producer group is now enjoying prices close to the 75 USD a barrel level that its largest member Saudi Arabia considers “ideal.”