Tagged: OPEC

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Oil prices are going down. Wait, what ?

This was my reaction when I saw oil prices drop recently to levels below $90. Not long ago they were indeed more around $110 than anything else. Lucky for us Thomas L Friedman from...

Oil reserves are exaggerated by one third 1

Oil reserves are exaggerated by one third

According to the Telegraph : ” The world’s oil reserves have been exaggerated by up to a third, according to Sir David King, the Government’s former chief scientist, who has warned of shortages and price...

Can Iraq quadruple its oil production ? 0

Can Iraq quadruple its oil production ?

According to an article from The Economist, Iraq has plans to quadruple its oil production by the next seven years. This would increase the production from the current 2.5 million barrels per day to...

Oil production peaked in non-OPEC countries 3

Oil production peaked in non-OPEC countries

I was wondering in May 2008 if oil production already peaked. The Oil Drum brings us more data on peak oil as to their latest article non-OPEC countries’ oil production peaked in 2004. Indeed,...