OPEC
OPEC General Secretary General, Abdullah El-Badri (R) talks with French oil company Total CEO Christophe de Margerie during a break at the 13th International Oil Summit on May 3, 2012 at the Hotel Meridien Etoile in Paris. The International Oil Summit is a conference organized each year in Paris by IFP Energies Nouvelles, the energy weekly Petrostrategies and IFP training which analyze the geopolitical and technical factors that structure the industry.
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Quotes
Increasing production by some OPEC members, especially Saudi Arabia, will create instability in the market and will likely lead to a serious decline in oil prices which undermines OPEC's goals
It is better for OPEC members to let the global market determine the price of oil and avoid making unilateral decisions
Oil prices are gradually gaining some traction, although we expect little direction before June when the Greek elections, OPEC meeting and the next round of Iranian talks are going to be heldMore quotes »
Newsday's coverage
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Corredoira: More U.S. oil won't cut prices
passionate debate, but it undervalues the influence of the Organization of Petroleum Exporting Countries.In recent years, OPEC has shown an ability to manipulate the price of oil around the world, making it unlikely for an increase in U.S. oil production to Read more »
Around the web
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ISODEC Denounces Threat of Fuel Subsidy Withdrawal
$100 to about $40 per barrel even though the OPEC Basket Price (a weighted average of prices for petroleum blends produced by OPEC countries) for 2008 stood at $94.45. The OPEC average subsequently declined to $61.06 in mid-2009, around the same time that 9:28 AM from AllAfrica.com Read more »
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Can Qatar Balance its Oik Interests and Host a Successful Climate Summit?
climate summit in Qatar later this year, I caught up with her to talk politics, the challenge of behaviour change and what an OPEC nation with the world’s largest per capita carbon footprint has to offer the international community in terms of dealing with 7:39 AM from Green Prophet Read more »
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The Latest from Iran (1 June): Through the Syrian Looking Glass
Output increased to the highest level since October 2008. The April total was revised 170,000 barrels a day higher. Saudi Arabia, OPEC’s biggest producer, bolstered output by 80,000 barrels to 9.9 million barrels a day this month, the highest level since at 1:18 AM from Enduring America Read more »
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Reversing Enbridge’s ‘Line 9’ means securing jobs
anywhere. Oil is going to flow through Line 9 one way or the other. One direction means leaving Central Canada hooked on OPECâs more expensive conflict oil. Reversing the flow of Line 9 back to the way it was built means supporting Canadian oil, Canadian jobs 5/31/12 from Vancouver Sun Read more »
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Ecuador Proposes Pastor as OPEC Head Vs Saudi, Iraq Bids
12- member group, nominated former Oil Minister Thamir Ghadhban, according to a March 6 statement. Iran will name a candidate when OPEC next meets, the Tehran-based Donya-e-Eqtesad paper reported, citing OPEC governor Mohammad Ali Khatibi. Khatibi didn’t answer from Bloomberg.com Read more »
