IEA says oil market on track to rebalance
22/08/2017 by Richard
The International Energy Agency (IEA) has released a new report stating that oil markets are set to rebalance as global inventories decline, but they describe the pace as “stubborn” and warn that producers need to…
Middle Eastern nations strengthen resolve to enforce production cuts
19/08/2017 by Mark
Iraq and Saudi Arabia, OPEC’s two largest oil producers, have signalled a renewed effort to enforce production cuts after their respective ministers met in Jeddah. OPEC output in July rose
Barclays predicts oil price drop
12/08/2017 by Mark
Financial giant Barclays expects the oil market to experience a “downward correction” this quarter, according to a
Oman and its oil heritage
11/08/2017 by Mark
The Sultanate of Oman occupies a strategically important location on the south-eastern edge of the Arabian Peninsula by the
Oil production in Algeria
09/08/2017 by OilStoreAdministrator
With an average production of 1,348,361 barrels a day in 2016, Algeria is ranked 18th in the world for oil production. While this is
Oil prices hit two-month high
06/08/2017 by OilStoreAdministrator
Oil prices rallied to a two-month high at the start of the week, amid possible sanctions against Venezuela and positive US data. WTI crude futures briefly exceeded the
Exploring oil production in Qatar
05/08/2017 by OilStoreAdministrator
The State of Qatar is a sovereign nation located on the Qatar Peninsula that juts out from the north-eastern side of
Slowdown in US shale production helps strengthen oil market
26/07/2017 by Mark
According to Baker Hughes, the US rig count rose by only two to 765 in the week ending July 14, representing the slowest pace of growth since November last year. The news enabled Brent Crude…
Nigeria willing to accept production caps, but not quite yet
21/07/2017 by Richard
Nigeria has signalled a willingness to accept production caps as part of its commitment to OPEC. Emmanuel Kachikwu, Nigeria’s Oil Minister, was
BP’s CEO not expecting major oil price rise
18/07/2017 by Mark
Bod Dudley, the CEO of oil giant BP, has stated that his company is planning for an oil price around the $50 a barrel mark for
ExxonMobil enters global collaboration on lubricants for gas engines
15/07/2017 by Richard
ExxonMobil, which makes industrial lubricants such as Mobil SHC 630 and Mobil Vactra 4, has teamed up with General Electric (GE) to
Kazakhstan’s oil industry explained
12/07/2017 by Mark
Straddling Eastern Europe and Central Asia, the former Soviet republic of Kazakhstan is the ninth-largest country in the