Gulf News - Saudi Arabia has raised production in May, a Reuters survey found, but not by enough to compensate for lower Iranian exports which collapsed after the United States tightened the noose on Tehran. The 14-member Organization of the Petroleum Exporting Countries pumped 30.17 million barrels per day (bpd) in May, the survey showed, down ...

[caption id="attachment_132949" align="alignright" width="171"] Saudi Arabia's Oil Minister Ali al-Naimi talks to journalists before a meeting of OPEC oil ministers at OPEC's headquarters in Vienna November 27, 2014.[/caption] (Reuters) -Saudi Arabiablocked calls on Thursday from poorer members of the OPEC oil exporter group for production cuts to ...

The Organization of Petroleum Exporting Countries will cut shipments by the most since December as refiners in the U.S. and Europe conduct seasonal maintenance, tanker-tracker Oil Movements said. The group, which supplies about 40 percent of the worlds oil, will cut exports by 740,000 barrels a day, or 3 percent, to about 23.7 million barrels a day ...