Iran Says OPEC Needs to Make Room For Its Oil

Iran’s oil output is moving away from a 20-month high reached earlier this year. Nevertheless, with OPEC expecting growing demand for its crude, Iran says it’s ready to make its presence known on the international oil stage. Iran is serious about achieving a position on the international stage that’s reflective of its reserve potential, the […]

OPEC Questions Sustainability of North American Oil Boom

OPEC Secretary-General Abdalla el-Badri said oil supplies from North America “will play an important role in the coming few years,” but he cast doubt on their sustainability over the long term. Speaking May 15 in Moscow, el-Badri acknowledged that oil supply from producers outside of OPEC are expected to increase by more than 4 million barrels per […]

Putin Is Losing Eastern European Energy Gamble

Russian President Vladimir Putin said he doesn’t think the European community can do without the natural gas it gets from energy monopoly Gazprom.  With a Russian economy starting to decline, however, it may be Gazprom that’s too strongly interconnected to the European market to break free. The narrative over European energy security reaches at least […]

U.S. Refiners Make Case Against Oil Exports

Record-setting levels of U.S. oil production have sparked calls from industry officials and policymakers to reverse a 1970s ban on crude oil exports. Dissent, however, is emerging from inside the U.S. oil sector itself. A January report from the American Petroleum Institute, an energy trade group counting more than 500 energy companies among its members, said exporting […]

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