AFP reported that OPEC will likely cut its oil production next year as prices risk falling in reaction to higher output from top crude consumer the United States and amid a slowing of energy demand growth. The Organization of Petroleum ...
Tags: oil production, top crude consumer, energy demand growth
Latest data from the Paris based International Energy Agency showed that the UAE, on average, produced 2.67 million barrels per day in October 0.74% lower than its output in September. IEA said that in the Q1 of 2013, increased ...
The UK expects its tax revenues from the oil and gas industry to slip by more than a third in the current tax year as declining North Sea production levels, lower than expected oil prices and upstream tax breaks crimp its receipts, the UK's ...
Reuters reported that Brent crude oil fell below USD 111 per barrel as a lack of progress in US budget talks to avert a fiscal crisis darkened the outlook for demand in the world's biggest oil consumer. Top US Republican lawmaker John ...
Tags: US fiscal, oil, oil consumer
The main factor in determining oil prices next year, whether they will hold near current levels or come off what looks to be the highest ever annual average, will depend on how the economies of the world's main demand centers fare, ...
Tags: Oil Prices, high oil prices, gas
A little heralded change to China's crude import rules may have a much greater impact on Asia's fuel oil market next year further depressing margins for the residue. Industry sources said that China National Chemical Corporation may be ...
Tags: teapot, PetroChina, Sinopec, CNOOC, fuel
Gulf News reported that the recently issued World Oil Outlook report by OPEC comes at a time when the oil refining industry is passing through many changes around the world. While the refinery distillation capacity is stagnant in the US, ...
Tags: OPEC, oil refining industry, refinery