Latest OPEC Stories

Saudi Arabia's Oil Output Drives Overall Organization Production Increase LONDON, May 13, 2013 /PRNewswire/ -- The Organization of the Petroleum Exporting Countries (OPEC) boosted crude output by 250,000 barrels per day (b/d) to 30.5 million b/d in April, a just-released Platts survey of OPEC and oil industry officials and analysts showed. Production increases in April halted a recent downward trend, during which overall output slid from 31.17 million b/d in October 2012 to 30.25...

Crude Oil Production Fell 170,000 Barrels Per Day From February LONDON, April 10, 2013 /PRNewswire/ -- Platts - Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell to 30.25 million barrels per day (b/d) in March from 30.42 million b/d in February, a decrease of 170,000 b/d, as Iraqi and Nigerian volumes dropped, according to a Platts survey of OPEC and oil industry officials and analysts released Wednesday. "It's possible that some of the...

LONDON, Feb. 7, 2013 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell to 30.45 million barrels per day (b/d) in January from 30.65 million b/d in December, led by a further drop in volumes from Saudi Arabia, a just-released Platts survey of OPEC and oil industry officials and analysts showed. Saudi Arabia reduced output to 9.25 million b/d in January from 9.45 million b/d in December. The January level was the lowest since...

HOUSTON, Jan. 28, 2013 /PRNewswire/ -- Topping the list of the big oil and gas stories in 2012 was the dramatic surge is US oil production. In 2013, the US will remain the largest source of new oil growth worldwide aided by the shale boom, but surpassing Saudi Arabia as the globe's top oil producer by 2020 will be a challenge. The big turnaround of US oil production brought by new light tight oil developments was fully recognized in 2012, putting to rest the long-held notion that...

LONDON, Jan. 14, 2013 /PRNewswire/ -- 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 million b/d in November, led by a plunge in exports from both Saudi Arabia and Iraq, a just-released Platts survey of OPEC and oil industry officials and analysts showed. The 430,000 b/d month-over-month drop takes the oil producer group closer to its 30 million b/d output target, which has...

LONDON, Dec. 10, 2012 /PRNewswire/ -- Crude oil output from the Organization of Petroleum Exporting Countries (OPEC) declined 90,000 barrels per day (b/d) to 31.08 million b/d in November, a Platts survey of OPEC and oil industry officials and analysts showed December 10. This follows October production of 31.17 million b/d and leaves OPEC exceeding its 30 million b/d output ceiling that was agreed to last December, and extended in June, by more than one million b/d. Decreases...

redOrbit Staff & Wire Reports - Your Universe Online U.S. oil output is set to surpass that of Saudi Arabia and Russia by 2017, reaching levels high enough to make the country nearly energy independent, the International Energy Agency (IEA) said on Monday in its annual World Energy Outlook report. “North America is at the forefront of a sweeping transformation in oil and gas production that will affect all regions of the world, yet the potential also exists for a similarly...

LONDON, Nov. 12, 2012 /PRNewswire/ -- Crude oil output from the Organization of Petroleum Exporting Countries (OPEC) edged up by 20,000 barrels per day (b/d) to 31.17 million b/d in October, a Platts survey of OPEC and oil industry officials and analysts showed November 9. This follows September production of 31.15 million b/d and leaves OPEC exceeding its 30 million b/d output ceiling that was agreed to last December and extended in June, by more than one million b/d. A drop of...

LONDON, Oct. 12, 2012 /PRNewswire/ -- Crude oil output from the Organization of Petroleum Exporting Countries (OPEC) fell by 390,000 barrels per day (b/d) to 31.15 million b/d in September, with Saudi Arabia and Nigeria accounting for the bulk of the month-on-month drop, a Platts survey of OPEC and oil industry officials and analysts showed October 11. This follows August production of 31.54 million b/d and leaves OPEC overproducing its 30 million b/d ceiling by 1.15 million b/d....

LONDON, Sept. 11, 2012 /PRNewswire/ -- Crude oil output from the Organization of Petroleum Exporting Countries (OPEC) climbed by 90,000 barrels per day (b/d) in August to 31.54 million b/d as increases from Angola, Iraq, Nigeria and the United Arab Emirates (UAE) outstripped decreases from Algeria and Iran, a Platts survey of OPEC and oil industry officials and analysts showed Tuesday. This follows July production of 31.45 million b/d and leaves OPEC overproducing its 30 million b/d...