LONDON, June 13 (Reuters) – Oil slipped to $103 a barrel on
Thursday as a subdued outlook for global demand due to weak
economic growth outweighed disruptions on the supply side and a
falling U.S. dollar.

The World Bank cut its outlook for global growth, saying the
economy should expand by 2.2 percent versus 2.3 percent in 2012,
citing a deeper-than-expected recession in Europe and a slowdown
in some emerging markets.

LONDON, June 12 (Reuters) – Oil major BP cut its
estimates of global gas reserves steeply on Wednesday, revising
Russia’s still classified reserves down sharply and putting
Iran at the top of the world league table.

In its benchmark annual statistical review for 2012, BP put
global proven gas reserves at 187.3 trillion cubic metres as of
the end of 2012, enough for about 56 years worth of global
production at current rates.

LONDON, June 11 (Reuters) – OPEC predicted world oil demand
will grow more quickly in the rest of 2013 and indicated the
group can keep pumping more oil than the ouptut target it
retained at a May 31 meeting without over-supplying the market.

The Organization of the Petroleum Exporting Countries in a
monthly report forecast world oil demand would expand by 900,000
barrels per day (bpd) in the second half, up from 700,000 bpd in
the first six months of 2013.

LONDON (Reuters) – Tough new rules proposed by the European Union for financial benchmarks would seriously threaten oil price reporting agencies (PRAs), industry sources say, as they could impose huge liabilities on oil publishers and participants.

Oil price reporting agencies were already under renewed scrutiny after European authorities raided the London office of lead price publisher Platts – a unit of McGraw Hill MHFI.M – as well as oil majors BP (BP.L: Quote, Profile, Research), Shell (RDSa.L: Quote, Profile, Research) and Statoil (STL.OL: Quote, Profile, Research), saying they suspected oil prices had been manipulated.

LONDON, June 6 (Reuters) – Tough new rules proposed by the
European Union for financial benchmarks would seriously threaten
oil price reporting agencies (PRAs), industry sources say, as
they could impose huge liabilities on oil publishers and
participants.

Oil price reporting agencies were already under renewed
scrutiny after European authorities raided the London office of
lead price publisher Platts – a unit of McGraw Hill -
as well as oil majors BP, Shell and Statoil
, saying they suspected oil prices had been manipulated.

LONDON/NEW DELHI (Reuters) – Western sanctions drove Iran’s crude exports to the lowest in decades in May, according to industry sources and tanker-tracking data, even before Washington toughens measures aimed at squeezing oil sales further.

Crude shipments dropped to 700,000 barrels per day (bpd) last month, the data from sources showed, about a third of Iran’s oil exports before the current round of sanctions.

VIENNA (Reuters) – OPEC oil exporters, basking in the market’s equilibrium, agreed to leave output policy unchanged on Friday as oil held around the group’s preferred level of $100 a barrel.

The Organization of the Petroleum Exporting Countries will retain its 30 million barrels per day (bpd) production target for the rest of this year, said Venezuelan Oil Minister Rafael Ramirez, after a swift meeting at OPEC headquarters.

VIENNA, May 31 (Reuters) – OPEC oil exporters, basking in
the market’s equilibrium, were on course to leave output policy
unchanged on Friday as oil held around the group’s preferred
level of $100 a barrel.

Just before their closed session meeting, oil ministers said
they expected the Organization of the Petroleum Exporting
Countries to leave its 30 million barrels per day (bpd) output
target unchanged for the rest of this year.

VIENNA, May 31 (Reuters) – OPEC oil exporters, basking in
the market’s equilibrium, were on course to leave output policy
unchanged on Friday as oil held around the group’s preferred
level of $100 a barrel.

Oil ministers have said they expect the Organization of the
Petroleum Exporting Countries to leave its 30 million barrels
per day (bpd) output target unchanged for the rest of this year.

VIENNA, May 30 (Reuters) – OPEC oil exporters on Thursday,
set to leave output policy unchanged, were weighing the impact
of rising supplies of U.S. shale oil that are redrawing the
landscape of global oil trade.

The Organization of the Petroleum Exporting Countries
has little room to pump more oil due to the U.S. oil boom that
has sparked competition for marketshare in Asia and set off a
rivalry between its top two producers Saudi Arabia and Iraq.