By hellenicshippingnews Despite plummeting oil prices and a glut in global supplies, members of the Organization of the Petroleum Exporting Countries (OPEC), have decided to increase oil production levels amid growing disagreement among members over the strategy. OPEC, which provides one-third of global oil, recently decided to increase its collective output to 31.5 million barrels […]

Oil price Its squeaky bum time in the oil industry as the crude price has fallen every day since the Opec meeting giving the bears so much to write about. Fundamentally of course they are still corre Read full story › Source:: Oil Voice       

Bank in talks with clients to cut borrowing limits as oil price slump hits servicers and producers Read full story › Source:: FT.com Oil and Gas       

LONDON, Dec 14 (Reuters) - Rather than taking profits, hedge funds continued to add to their record bearish positions after the Organization of the Petroleum Exporting Countries (OPEC) failed to reach agreement on a production target at the start of the month. Read full story › Source:: Reuters UK Natural Resources