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Abu Dhabi’s oil output rises 6.8%
Abu Dhabi produced 2.83 million barrels per day on average in September, up 6.8 per cent year-on-year, giving a big boost to nation’s revenue inflows and flooding the financial system with liquidity, according to a latest report by National Bank of Abu Dhabi (NBAD).
Iran could reassert authority at Opec
Group may need to cut supply later in 2014 as US shale oil rises
Dubai oil premium at 2-year high
Royal Dutch Shell buys an unprecedented number of cargoes in November
to decide oil output amid demand, Libya strains
Group to take decision with Libya’s situation in mind; new chief also on agenda
The Iran N-deal, sanctions and Western oil firms
The iran nuclear deal in Geneva has not caused a collapse in oil prices with Brent now trading in the $110-$112 range. This is due to the simple fact that global oil markets are still sceptical that US and EU sanctions will be eased fast enough to enable Iran to boost output by one million barrels a day it lost after banking, shipping and insurance sanctions slashed exports to Asian refineries after 2010.
Opec production drops further to 2-1/2-year low
Opec’s oil output has fallen in November, remaining below 30 million barrels per day for a second month, a Reuters survey found, due to strikes and protests in Libya and further trimming of Saudi Arabian output.
A landmark energy deal
Turkey, Iraqi Kurdistan accord to transform semi-autonomous region into an oil and gas powerhouse
Saudi Arabia welcomes US shale oil
Top oil exporter Saudi Arabia remains unconcerned by surging US shale output, which threatens to eat into Opec’s market share, and sees no need to cut production to support prices, its deputy oil minister said on Wednesday.
WTI crude trades near 4-month low
West Texas Intermediate traded near a four-month low as crude stockpiles gained for a sixth week in the US, the world’s biggest oil consumer. Libya may resume production from one of its largest oil fields by next week.
Govt-industry teamwork needed to solve ‘energy trilemma’
With growing energy demand in Asia and coming challenges in the global market, industry and governments need to work together to find solutions to tackle the “energy trilemma” of energy equity, energy security, and environmental sustainability, said panelists at the World Energy Congress in Daegu on Wednesday.
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