OPEC has 12 member countries and the twelfth member Iraq doesn’t come under the production agreements MERLIN FLOWER | 2010/03/25 OPEC production quotas as expected Without giving any room for surprises, OPEC has agreed to keep the production quotas unchanged this time too. Meeting in Vienna on March 17, this is the fifth time since […]

It was confirmed that oil fields in Taranaki basin has about 100 million barrels of recoverable oil. MERLIN FLOWER | 2010/03/17 Heard about Zealandia, the eighth continent of the world? Zealandia is said to be a submerged or micro continent that sank millions of years ago. Most of this submerged continent is said to be […]

Oil prices in the coming weeks: So, will oil manage to climb up, even further? Well, major groups like IEA and EIA have projected strong demand for oil in the near future. According to Barclays oil prices were likely to rise to $80-$90 range. Quoting data from Joint Oil Data Initiative (JODI), which said […]