Tag: OPEC meeting

Oil Outlook for June 9-13

The oil market didn’t move much last week as oil prices (WTI and Brent) slightly declined during last week. WTI inched down by 0.05%; Brent oil declined by 0.73%. As a result, the gap of Brent oil over WTI slightly…

How Does OPEC’s Decision Affect Oil Prices?

OPEC’s 161st meeting was held last week; according the press release, OPEC ministers agreed to maintain the current oil production in 2012, i.e. the production ceiling will remain at 30 Mb/d. Some already speculate Saudi Arabia may cut its oil…

OPEC to Keep Oil Production Unchanged in 2012

In today’s OPEC meeting the OPEC ministers reached an agreement on the future crude oil production in 2012, as oppose to the last OPEC meeting back in June 8th, in which  OPEC members couldn’t reach a consensus on OPEC’s oil…

Saudi Arabia signals to raise oil production

Following the OPEC meeting from last week, in which OPEC ministers didn’t reach an agreement as to the whether to raise  oil production quota, it’s currently reported that Saudi Arabia may raise its oil production quota in the months to…