A report by International Energy Agency (IEA) has revealed that as investors are going for environment friendly products, it is believed that natural gas will be in huge demand.

Exxon Mobil, the world’s largest publicly-traded energy company, is planning to build a campus based in Houston, to gather employees across the state in one location.

Delegates from the Organization of Petroleum Exporting Countries, which includes representatives from member countries Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia

It was revealed by the Oil Minister in Iraq that the current scenario of the oil fields is not such that the nation needs to worry about.

It was announced by the Norwegian gas and oil plant, Statoil that it shall sell as much as 24.1% of its share in the venture of the pipeline.

On Monday, the price of sweet crude-oil for delivery in July dropped 24 cents, or 0.2%, to $99.98 a barrel on the New York Mercantile Exchange during Asian trading hours.

According to reports, in the course of deciding whether to formally change production quotas, members of the 12-nation Organization of Petroleum Exporting Countries, have agreed more crude is needed.

The crude oil prices have seen an upturn in the recent past. It has gone up by $102.80 for a barrel in the Global electronic session.