Thu, Apr 17, 2014
A A A
Welcome kbr175@gmail.com
RSS

Commodities Briefing - Categorized | Market Moves, Oil more

Libya pushing for bigger role in OPEC

Posted on 30 April 2013

Libya will seek to increase its oil output quota within the Organization of the Petroleum Exporting Countries (Opec) once it is sure it can produce 1.7 million barrels per day (mbpd), up from about 1.5 million currently, Oil Minister Abdelbari Al Arusi said.
Opec dropped individual allocations in 2011 when it adopted a 30-mbpd output target. But with production rising in Libya and Iraq, the issue of quotas may need to be addressed at some stage. Though individual country quotas are for the moment off the radar, this month’s oil price falls have prompted statements from Venezuela and Iran about a potential extraordinary Opec meeting and the idea of cutting output has been raised, said Simon Wardell, oil analyst at IHS………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 34624 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
April 2014
S M T W T F S
« Mar    
 12345
6789101112
13141516171819
20212223242526
27282930