NEW YORK, Jan. 12 (UPI) -- Crude oil prices recovered some lost ground in early Tuesday trading amid suggestions members of OPEC could meet to discuss the weak price environment. Emmanuel Kachikwu, Nigeria's oil minister and current president of the Organization of Petroleum Exporting Countries, said in an interview with CNN he expected ministers from the 13 members of
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The ongoing price war continues between crude oil producers, as the Organization of the Petroleum Exporting Countries (OPEC) maintains its Saudi Arabia-led policies to maintain high oil output, contributing to a glut that has brought prices to record lows. This same strategy that aims to crowd out non-OPEC oil producers (particularly Russia and American shale oil companies), ho
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In 2015 in Iraq, the Iraq Oil Ministry announced it exported 1.097 billion barrels of oil in 2015 and this generated $49.079 billion in oil sales revenue. Iraq sold 99.7 million barrels of oil in December, generating $2.973 billion which comes after selling a record 100.9 million barrels in November, said oil ministry spokesman Asim Jihad. The country sold at an average price o
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Recent intensified air strikes by a US-led coalition on oil infrastructure controlled by Islamic State (IS) in Iraq and Syria have reportedly eroded the militant group’s most important source of revenue and undermined its ability to govern territory. IS' oil operations in Iraq have almost been shut down by air attacks carried out under the so-called Operation Tidal Wave II laun
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Production capacity of the field amounts at present to 450,000 barrels of oil daily West Qurna-2 oil field in Basra, southern Iraq Lukoil CEO believes lifting embargo on oil exports from US won't lead to market overload Militants in Syria change illegal oil trade routes — Russian Defense Ministry Russia's Lukoil selling assets in Lithuania, Latvia due to local anti-Russia senti
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