Tag: OPEC
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Iran Wants Emergency OPEC Meeting To Stop Sliding Oil Prices
Iran’s Oil Minister, Bijan Zanganeh, has called for an emergency OPEC meeting in order to stabilize collapsing oil prices. Zanganeh’s call to arms echoes a similar message sent earlier this month by officials in Algeria. Following both of those messages officials for the Organization of Petroleum Exporting Countries said no meeting was planned. “Iran endorses […]
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Crude Oil Just Sunk To A Six-Year Low
Crude Oil is continuing on its downward spiral. On Tuesday morning, West Texas Intermediate crude futures in New York fell 4% to a low as $43.03 per barrel. Brent crude also fell to nearly $50 per barrel. Oil prices continued to plummet after OPEC released its monthly production numbers and showed a July that produced […]
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OPEC’s Oil Demand Growth Forecast Remains Unchanged
The Organization of the Petroleum Exporting Countries (OPEC) has left its demand growth forecast for crude oil unchanged. The organization on Wednesday said that it expects the current oversupply in the market to ease over the coming quarters. In the organization’s monthly market report, OPEC said oil demand growth in 2015 will remain unchanged at 1.18 million […]
