Iraq Rules out Oil Prices Dropping Below $100 – Iraq Oil.
Oil prices will not fall lower than $100 per barrel this year despite political crises across the Middle East, central government has said.
Oil Up on Economic Data, but Europe Worry Limits Rise | Iraq Oil.
Brent crude prices edged higher on Tuesday on lift from the weaker dollar and better-than-expected data from China, Germany and the United States, but concerns about Europe’s economy after last week’s credit downgrades limited gains.
Volatile New Year Ahead for Crude :- Iraq Oil.
While oil prices have remained relatively steady in the past few months the outlook is more uncertain than ever with both a price collapse and spike possible in the near term as the global economic and geopolitical outlook worsens.
Iran asks OPEC members for output cuts : Iraq Oil.
Iran has asked the Gulf Arab oil producers to reduce output back to pre-Libya crisis volumes, Reuters has reported. “We will ask the countries that increased their production when Libya stopped production to change the level of production to the previous level,” Iranian oil minister Rostam Qasemi said. A cut in supplies to May’s levels [...]
IEA reports oil could hit $150 per barrel :- Iraq Oil.
The International Energy Agency (IEA) has said if investment in the Middle East and North Africa (MENA) oil-producing region fell significantly, oil prices could reach $150 per barrel in the near term, Reuters has reported. “If between 2011 and 2015 investment in the MENA region runs one-third lower than the $100bn per year required, consumers [...]