Oil Industry Faces Huge Worker Shortage
The rig count has rebounded from the lows seen in late May, a small indication that oil companies in the U.S. could begin drilling...
OPEC does not interfere in crude oil prices
The UAE Energy Minister Mohammed Bin Dha'en Al-Hamili said the Organization of the Organization of the Petroleum Exporting Countries (OPEC) does not interfere in...
Oil prices remain focused on Euro zone liquidity crisis solutions
Looking forward, oil prices will remain focused on talks that emerge from the meetings in Europe.
Where Will Oil Prices Go After Algiers?
Saudi Arabia and Iran may yet come to terms on some sort of production arrangement, but the outcome of the negotiations in Algeria this...
Oil Price above $87 and expected to go higher in the...
Oil prices rose more than 2 percent on Monday to their highest since October 2008, after data showed U.S. payrolls surged in March, the...
Shell Still Optimistic about Oil Price
Royal Dutch Shell PLC (RDSA) remains optimistic about the future of the oil price, despite its dramatic slump in recent months, Chairman Jorma Ollila...
Petrol prices to rise again in UAE
Local petroleum products distributors have decided to hike the price of a liter of petrol by 20 fils as of 15th July...
Oil Prices Push up after OPEC’s Production Cut
The price of Brent crude, the international benchmark for oil prices, jumped above $52 a barrel on Thursday after the Organization of the Petroleum...
DME Oman Crude Up Over 100% Since Historic Production Cuts
Oman crude oil Benchmark trading on Dubai Mercantile Exchange has doubled in price since the record cuts agreed by the OPEC+ group and other...
Oil prices fall again on weak data, output doubts
Oil prices fell in early Asia trade Monday, dragged by weak Chinese manufacturing data and dimming prospects of a coordinated production cut by world's...
Oil prices to jump 10% on supply fears and strong demand
The International Monetary Fund forecast oil prices will gain 10 percent on average in 2012 compared with a year earlier on possible supply disruptions...
OPEC oil output falls in December: Platts survey
Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell to 30.65 million barrels per day (b/d) in December from 31.08...
DME issued a public consultation to add Abu Dhabi Murban crude...
Dubai Mercantile Exchange (DME), the premier international energy futures exchange in the Middle East, issued today a public consultation to add Abu Dhabi Murban...
EIA expects oil to reach $103 a barrel till year end
The Energy Information Administration of the Department of Energy predicts that the Brent crude oil spot price will reach about $103 per barrel during...
Oil price struggles after controversial forecasts
On Tuesday Brent crude dipped below $100 per barrel for the first time in nine months. This caused worries among investors supported by weaker...
ADNOC committed to OPEC’s Output Cuts Agreement
The Abu Dhabi National Oil Company (ADNOC), in line with the recently agreed oil production cut resolution adopted by OPEC, is undertaking the necessary...
Oil Market Outlook 2011
Average WTI crude oil prices increase by 28.3%YoY to USD79.5 per barrel in 2010.
European debt crisis and slow recovery in the US to keep...