Energy Roundup: Updates on Energy market

The energy activity has still been creating tensions among energy investors, especially, among small consumers. Here are some of the world's leading nations, highlighting its energy activities, so to keep you update of the oil industry.


The Organization of Petroleum Exporting Countries announced that despite record high oil prices causing a decrease in demand, it will not change its production rate before September.

The weakening U.S. dollar is the primary factor driving crude prices, said OPEC President Chakib Khelil, who is Algeria's oil minister.

Some nations have called on OPEC to increase oil production to ease high prices, but member countries have not budged. Khelil said he and other OPEC leaders expect demand to increase again during the summer months.

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Argentina energy crisis needs urgent solution, expert says

The energy crisis in Argentina is getting worser everyday. It even caught the attention of some of the energy experts and advised the country to be given priority for energy support. there must have plans for energy explorations and investments in order for the country to move on progressively.

"Prices of energy sources in general are expected to stay high," said Carlos Pierro, vice president of the Argentine Committee to the World Energy Council, or CACM, during a presentation at the annual IDEA conference.

"If Argentina's economy keeps on growing, by 5% a year, we need to invest $4.5 billion a year, or 2% of Argentina's gross domestic product, in oil and gas exploration and production," he added.

Pierro's conclusions concurred with a study presented in September by the Buenos Aires Technology Institute, or ITBA, and come as Argentina faces an energy crisis that has periodically forced the government to ration gas and power supplies.

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