OPEC Monthly Oil Market Report – July 2015 The OPEC Reference Basket averaged $60.21/b in June, representing a decline of $1.95. Crude oil futures prices saw mixed movement with ICE Brent falling by $1.86 to average $63.75/b, while Nymex WTI gained 46¢ to reach $59.83/b. This caused the Brent-WTI spread to narrow to around $3.90/b for the month. Money managers further reduced n
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Erbil-Baghdad oil relations swing between deal, no deal ERBIL, Iraq — Encouraged by more international interest in purchasing its oil, coupled with the apparent failure of the federal Iraqi government to provide agreed-upon budget handouts, the autonomous Kurdistan Regional Government (KRG) has embarked on a new policy of unilateral independent oil sales. Since the b
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$7.3 billion on KRG fuel imports could have been saved with affordable gas Editor's Note: Luay al-Khatteeb discusses the relationship between Kurdistan Regional Government (KRG) and Baghdad in an interview with Harem Karem of theThe Kurdistan Tribune. Harem Karem: How do you see the future of the current deal between Baghdad and Erbil? We are handing over the agreed oil
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Long live the price maker Since its inception in 1960, OPEC and the world of oil has often been misunderstood or seen as shrouded in mystique or myth. OPEC members have 81% of the world’s known reserves with 66% being in the Middle East and though it now only accounts for a third of world crude oil production, the importance of the organization for the world’s future shoul
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Low oil prices haven't been great for countries that heavily rely on the commodity. Governments in oil-producing states need oil's price to stay above a certain price so that they can meet their spending commitments. In a note to clients, Deutsche Bank's strategist Michael Hsueh shared a chart that shows the fiscal break-even price per barrel for major OPEC and non-OPEC count
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