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OPEC maintains output quotas

The Organization of Petroleum Exporting Countries (OPEC) decided on Saturday at an extraordinary meeting in Quito to maintain current quotas for its production.

read more... 13/12/2010


OPEC expects more demand for its oil next year.

The world demand for OPEC's oil is expected to be higher next year, due to increasing rates of economic growth.

read more... 12/11/2010


Angola seeks greater oil output quota as India looks into additional crude imports

As declared by Angolan Oil Minister, Jose Botelho de Vasconcelos, the country wants OPEC to grant them a bigger output quota as India shows interest in additional crude imports.

read more... 02/11/2010


Daily Market Update, Tuesday, Octobre 12.2010

Oil price was down for the second day on Tuesday as OPEC decided to let the oil market to focus on stronger dollar and to maintain oil current production levels. At 06:32 GMT, U.S. crude for November decreased at $81.43 per barrel, while ICE Brent dropped by $0.75 arriving at $82.97 per barrel.

read more... 13/10/2010


Angola – surpassing its OPEC quota.

Oil minister Jose Botelho de Vasconcelos was quoted by local news agency declaring that Angola is extracting more than its OPEC quota. The Angolan official said that they’re producing 1.9 million barrels of oil per day even though they admit the output target set by OPEC is 1.656 million bpd, and still, industry sources say that it is even lower, at 1.52 million bpd.

read more... 27/09/2010