OPEC: Cuts coming?

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While OPEC may not take action at its meeting on December 12, most analysts expect the group to cut production in the new year or face depressed crude prices.

The Organization of Petroleum Exporting Countries may choose to hold fire at their latest meeting in Vienna on December 12, but it may be forced to cut production in the New Year, analysts say. CONTINUE READING

Hidden riches: ME’s undiscovered oil & gas resources(0)

: Nwardez / People Photos / CC BY-NC-SA

The Middle East is awash with billions of dollars worth of undiscovered oil and gas buried deep in the region, according to the United States Geological Survey. But the largest deposits are not in Saudi Arabia. CONTINUE READING

US shale: A threat to Saudi dominance?(0)

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OPEC finally acknowledged the very clear and present danger of North American shale oil and gas production. CONTINUE READING

Saudi Arabia: Refinery Hub(0)

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Saudi Aramco ‘s decision to proceed with the 400,000 barrels per day Jazan Refinery is part of a trend of turning the Middle East into a beehive of global refining activity. CONTINUE READING

Iraq: Making up for lost decade?(0)

Although many new pockets of oil and gas reserves are bubbling all over the world, international oil companies consider Iraqi natural resources as one of the most prized assets. CONTINUE READING

: Kurdistan Photo كوردستان / Foter / CC BY-SA

Gulf States’ Budget Breakeven Oil Price Declines(0)

Breakeven oil prices for Saudi Arabia and the UAE decline for the first time in years, according to Deutsche Bank, which is great news for the

GCC, especially at a time of falling crude prices and global and regional economic uncertainty. CONTINUE READING

17 Amazing Oil Facts From BP(0)

While the Middle East continues to rule the fossil fuel markets, there are some great emerging trends which highlight the rapid changes in the global energy industry…. CONTINUE READING

OPEC Set To Rake In $1 Trillion In Revenues(0)

: JaulaDeArdilla / Foter

Members of the Organization of the Petroleum Exporting Countries (OPEC) could earn an estimated USD1,171 billion of net oil export revenues in 2012 and USD1,133-billion in 2013, according to the U.S. Department of Energy data unit, the EIA. READ MORE HERE

Oil Contrarians Strike Back(0)

: L.C.Nøttaasen / Foter

While the overwhelming general consensus is that oil prices could head north of USD140 per barrel before the end of the summer, a small group of analysts are suggesting that the market may pause for breadth and climb down. READ MORE HERE

U.S. To Overtake Saudi Arabia & Russia In Oil Production By 2020: Citigroup(0)

The United States’ hydrocarbon’s production will eclipse Saudi Arabia and Russia as early as 2017, says Citibank. In fact the energy surplus points to North America effectively becoming the new Middle East by the next decade. READ MORE HERE