OPEC fears that its grip on the global supply of oil is being threatened by the rising output of Iraq's oilfields and the prospect of billions of dollars of multinational investment in the world's leading untapped oil resource. Iraqi oil exports in February were at their highest in 20 years, at an average of 2.08 […]
The storm brewing on the Organization of Petroleum Exporting Countries' (OPEC) horizon over future Iraqi oil output could engulf the producer group sooner than it would like. "There's only one issue, but it's a big one. It's a tsunami. Iraq," said Leo Drollas at the Centre for Global Energy Studies. After years of sanctions and […]
Crude oil supply from OPEC is rising to the highest in 14 months led by Angola and Saudi Arabia, a survey showed, further reducing compliance with output targets. Supply from the 11 OPEC members with output targets, all except Iraq, is averaging 26.80 million barrels per day (bpd), up from a revised 26.69m bpd last […]
