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OPEC
OPEC Secretary General visits IR Iran
OPEC Secretary General, HE Mohammad Sanusi Barkindo, met with IR Iran’s Minister of Petroleum, HE Bijan Namdar Zanganeh, during a closed-door session on November 19 in the capital city of Tehran. According to sources in the Ministry, the two oil…
Holding the line
The issue that currently dominates the outlook for the oil market is the outcome of OPEC’s ministerial meeting in Vienna on 30 November. It has only been two months since OPEC last met in Algiers and announced it would examine…
Global oil demand could peak by 2020, says Shell
The rise of electric cars has led many analysts to make predictions about the future of the oil industry. ExxonMobil and OPEC have both made statements indicating confidence that the majority of vehicles on the world’s roads will continue to…
1st Meeting of the High-level Committee of the Algiers Accord – OPEC and Non-OPEC Oil Producing Countries
The OPEC High-level Committee, established by the Algiers Accord, met with non-OPEC oil producing countries on Saturday, 29 October, at OPEC headquarters in Vienna. It was preceded by the first High-Level Committee Meeting, held Friday, 28 October, among OPEC Member…
Electric Cars Pose ‘Resoundingly Negative’ Threat to Oil Companies: Analyst Fitch
So far, though, the oil industry hasn’t seemed to give plug-in electric cars much attention. ExxonMobil and OPEC have both predicted that, even by 2040, electric cars will make up less than 10 percent of global new-car sales. But a…
World Bank Ups Its 2017 Oil Price Forecast To $55
The World Bank has just upped its oil price forecast for 2017, saying it now expects average prices to be US$55 a barrel over the next year. That’s US$2 more than its earlier forecast, which is a reflection that at…
OPEC Ministers, Secretary General Hold Oil Talks in Istanbul
OPEC Conference President HE Dr. Mohammed Bin Saleh Al-Sada and the Organization’s Secretary General HE Mohammad Sanusi Barkindo held a series of informal meetings with OPEC and non-OPEC oil and energy ministers on the sidelines of the 23rd World Energy…