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Muscat(Qasioun) -Oman’s minister of oil and gas Dr Mohammed bin Hamad Al Rumhy on Sunday said he is confident of a recovery in crude oil prices, after a meeting of Opec and non-Opec members scheduled to take place in Doha, Qatar, to decide on freezing output.According to Dr Al Rumhy, oil...
A semiannual bank review of credit lines for U.S. oil and natural gas producers may go a long way toward determining whether there will be a shakeout in the industry this yearand how extensive it might be.In a new report, Standard Poor’s Rating Services said it expects the “borrowing...
Oil prices scored their biggest one-day gain since 2009Friday after hitting12-year lows a day earlier, as hopes of production cuts by the Organization of the Petroleum Exporting Countries fueled a rally.The roller-coaster ride for crude oil kicked into high gearasthe price of West...
Source: Arthur Andersen, CERIIn 1978 Iran produced 5.2 mmb/d. Religious insurgents overthrew the Shah of Iran in 1979, which caused oil prices to spike and production to decline. Within two years, Iran’s output had fallen by more than 3.5 mmb/d or 68 percent. Sensing a weakened and intensely disliked...
