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Opinion: How Much Longer Can OPEC Hold Out?

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With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Iran is all set to pump close to 300 million barrels of crude into the market, thereby kickstarting another potential decline in oil prices.

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Saudis Expand Price War Downstream

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The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. As if being the world’s biggest exporter of oil was not enough, the desert kingdom is now looking to conquer the refining sector as it has quickly become the fourth largest refiner in the world.

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IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

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The International Energy Agency (IEA) last week launched the 2011 edition of the World Energy Outlook (WEO), the current edition of its annual flagship publication assessing the threats and opportunities facing the global energy system out to 2035. While there is still time to act, the window of opportunity is closing. —WEO 2011.

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