Saudi Arabia, the world’s top oil exporter, said Monday it can pump more oil at a moment’s notice, the day after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output.
Top world oil exporter Saudi Arabia and other Gulf countries have boosted output in March, helping to make up for supply lost due to violence in Libya, a Reuters survey found on Wednesday.
Top world oil exporter Saudi Arabia and other Gulf countries have boosted output in March, helping to make up for supply lost due to violence in Libya, a Reuters survey found on Wednesday.
Iraq: The Iraqi oil ministry will today sign the final contract over West al-Qarna-2 oilfield with Russia’s Lukoil and Norway’s Statoil, Aswat al-Iraq has reported. “The two companies pledged to up production to a peak of 1.8 million barrels per day at a rate of $1.15 per barrel of additional produced barrel,” oil ministry spokesman, [...]
Iraq: Iraq’s oil minister has said he expects the country to become the world’s top oil producer within six to seven years, Reuters has reported. “We can’t find a reason to prevent Iraqi production becoming higher than any other Opec state or even states outside Opec,” Hussain al-Shahristani said. Unlike Opec’s 11 other members, Baghdad [...]