Saudi Arabia’s Oil Minister Ali al-Naimi The failure of the OPEC/non-OPEC producers’ meeting in Doha was principally because Saudi Arabia is winning the market share war and didn’t need a deal. World oil prices fell sharply after the meeting…
Tag: OPEC
Iran says no to output restraint
Iran’s Oil Minister Zanganeh (centre) with Qatar’s Energy Minister Sada (left) For full coverage of Middle East business, see MEED Iran said on Wednesday it would resist any plan to restrain its oil output as part of a deal between…
Iran aims for immediate 500,000 b/d production increase
Iran’s Oil Minister Bijan Zanganeh For full coverage of business developments in Iran and the Middle East, see MEED Iran aims to increase oil output by 500,000 barrel a day (b/d) immediately after the relaxation of international sanctions, which could…
New oil contract to be unveiled on 28 November
Head of Iran’s oil and gas contracts restructuring committee Mehdi Hosseini For full coverage of Middle East business events, see MEED Iran’s new oil and gas contracts will have flexible terms that take into account oil price fluctuations and investment risks,…
The Middle East in the first quarter of 2015
Will the GCC and the US be masters of the new world energy order?
A new world energy order may be emerging where the masters will be the GCC, the world’s biggest energy exporters, and the US, the world’s largest energy consumer. In an interview with Middle East Economic Survey (MEES) in December, Saudi…
Iraq oil production rose by more than 100,000 b/d in April: OPEC
Iraq’s oil production rose to 3.3m b/d in April, more than 100,000 b/d above the figure reported in March, figures in the monthly OPEC Oil Market report show. Aggregate oil output by the six OPEC Gulf states in April was 21.9m b/d,…