OPEC pumps 70,000 barrels more oil in August

More oil pumping from Libya and Angola pushed up production in the Organisation of Petroleum Exporting Countries (OPEC) by 70,000 barrels a day (b/d) last month. The Middle Eastern group’s oil gushed up to 30.2 million b/d in August from 30.13 million b/d in July, according to a Platts survey of OPEC and oil industry […]

‘Major growth’ predicted for heavy crude oil

Global production of heavy crude oil will rise to 12.3 million barrels per day by 2020, claims a new study. The annual outlook by industry publisher Hart Energy suggests that new output from Canada, Venezuela and the Middle East will boost production. Heavy Crude Oil: A Global Analysis and Outlook to 2035, shows that average […]