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Last updated on April 17, 2014 at 21:23 EDT

Latest OPEC Stories

2014-04-10 16:21:25

Down 550,000 Barrels Per Day from February on Saudi, Iraqi and Libyan Cuts LONDON, April 10, 2014 /PRNewswire/ -- Platts - Oil production from the Organization of the Petroleum Exporting Countries (OPEC) plunged 550,000 b/d from February to 29.56 million b/d in March -- its lowest level since mid-2011 -- according to the latest Platts survey of OPEC and oil industry officials and analysts. The decline followed February production of 30.11 million b/d and was mainly attributable to...

2014-03-07 16:20:50

Up 240,000 b/d from January, Driven by Surge in Iraqi Oil Exports LONDON, March 7, 2014 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) climbed by 240,000 barrels per day (b/d) to 30.11 million b/d in February from 29.87 million b/d in January following a surge in Iraqi exports and despite new setbacks in Libya, a just-released Platts survey of OPEC and oil industry officials and analysts showed. "These are the sorts of output...

2014-02-10 16:22:33

Up 150,000 b/d from December and driven by up-stepped Libyan production LONDON, Feb. 10, 2014 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose 150,000 barrels per day (b/d) to 29.87 million b/d in January from 29.72 million b/d in December as an increase of 280,000 b/d in still-beleaguered Libyan production more than offset drops in Angola, Iraq and Saudi Arabia, a just-released Platts survey of OPEC and oil industry...

2014-01-29 08:23:37

According to EY's Oil & Gas Center's US quarterly outlook HOUSTON, Jan. 29, 2014 /PRNewswire/ -- The continuing surge in US oil and natural gas production - primarily from unconventional resources, such as shale gas and light, tight oil, made the US the oil and gas industry's largest source of growth. The US looks to be a net exporter of gas within the next 2-3 years, while net oil import dependency has been sharply reduced. (Logo:...

2014-01-10 16:20:48

Up 20,000 Barrels Per Day on Upped Output from Saudi Arabia, Iran and Nigeria LONDON, Jan. 10, 2014 /PRNewswire/ -- Platts - Oil production from the Organization of the Petroleum Exporting Countries (OPEC) edged up by 20,000 barrels per day (b/d) to 29.72 million b/d in December from 29.7 million b/d in November as increases from Saudi Arabia, Iran and Nigeria more than offset a drop in Iraqi volumes, a just-released Platts survey of OPEC and oil industry officials and analysts...

2013-12-16 12:21:51

Crude Oil Output Down 230,000 Barrels Per Day From October on Libyan Drop LONDON, Dec. 16, 2013 /PRNewswire/ -- Platts - Oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell to 29.7 million barrels per day (b/d) in November, the lowest volume since mid-2011 when the uprising in Libya significantly reduced the country's production, a just-released Platts survey of OPEC and oil industry officials and analysts showed. Renewed turmoil in Libya affected...

2013-11-12 16:21:19

LONDON, Nov. 12, 2013 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) remained broadly unchanged at 29.93 million barrels per day (b/d) in October following production of 29.91 million b/d in September, a just-released Platts survey of OPEC and oil industry officials and analysts showed Tuesday. Increased output from Iraq and Libya of 360,000 b/d was almost completely offset by reductions totaling 340,000 b/d, of which the...

2013-10-30 08:24:40

According to EY's Oil & Gas Center's US quarterly outlook HOUSTON, Oct. 30, 2013 /PRNewswire/ -- With new infrastructure opening up logistical bottlenecks between the Midcontinent and Gulf Coast regions, and mounting instability in the Middle East and North Africa, US and global oil prices pushed higher in recent months, according to the latest US quarterly outlook by EY's Oil & Gas Center. (Logo: http://photos.prnewswire.com/prnh/20130701/NY40565LOGO-b ) However, not all...

2013-10-10 08:23:01

First Time OPEC Oil Output Falls Below 30 Million b/d Since 2011 LONDON, Oct. 10, 2013 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) fell below 30 million barrels per day (b/d) for the first time in more than two years in September, as maintenance work at Iraq's southern facilities slashed the country's exports and Libyan production was further reduced by ongoing strikes and protests, a just-released Platts survey of...

2013-09-10 16:21:18

Libyan Production Plunge Weighed on Output; Saudi Hike Did Not Offset Losses LONDON, Sept. 10, 2013 /PRNewswire/ -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) was 30.28 million barrels per day (b/d) in August, down 60,000 b/d from July, a just-released Platts survey of OPEC and oil industry officials and analysts showed. OPEC crude output fell again in August as oil worker strikes and protests drove Libyan production below the 300,000-b/d...