1st Meeting of the High-level Committee of the Algiers Accord – OPEC and Non-OPEC...

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 Countries. In addition to OPEC Member Countries, six non-OPEC countries …

Oil Prices Drop as Concerns over Global Fuel Glut Re-emerge

Oil prices fell more than a percent on Wednesday as a report showing a surge in U.S. crude stocks, rising production in Nigeria and squabbling among producers about a planned output cut re-ignited concerns about a global supply glut. Brent crude futures were down 61 cents, or 1.20 percent, at …

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 least some shred of optimism is returning to the oil …

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 Congress (WEC) here yesterday. HE Al-Sada, who is Qatar’s Minister …

OPEC Secretary General to attend annual meetings of the IMF and the World Bank...

OPEC Secretary General, HE Mohammad Sanusi Barkindo, along with a delegation from the OPEC Secretariat, will be attending the Annual Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) that take place in Washington DC from October 7-9. HE Barkindo has …

OPEC Secretary General attends opening of 15th IEF Ministerial

 Algeria, 27 September 2016 – OPEC Secretary General, HE Mohammad Sanusi Barkindo, attended the opening session of the 15th Ministerial Meeting of the International Energy Forum (IEF) here yesterday. HE Barkindo took part in the first plenary session of the Conference, held at the impressive International Convention Centre, speaking alongside …

Europe’s Largest Gas Field Could Face Larger Production Cap

The Dutch Parliament adopted a motion to review production at the Groningen gas field annually, Reuters reported on Thursday. In June, the legislature passed a 5-year output bill that sought to limit the risk of earthquakes linked to production activity by limiting production from Europe’s largest gas field to 24 …