Parvin Faghfouri Azar

Russia to Reach Record-High Oil Production by Summer 2022

Russia may reach a record-high level of crude and condensate production in summer 2022, with output expected to reach its peak in 2023, Norway’s Rystad Energy consulting company said in a statement on Friday. “The OPEC+ coalition’s recent agreement to steadily raise oil production is paving the way for Russia …

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Global Oil Demand may Exceed 100 mln bpd in 2022

The Organization of the Petroleum Exporting Countries (OPEC) maintained its forecast on global oil demand growth for 2021 and 2022, and raised its estimates for the growth of the global economy. Global oil demand is estimated to increase by around 6 million barrels per day (bpd) to average 96.6 million …

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US Calls on OPEC and Its Allies to Increase Oil Production

President Joe Biden’s top aides are calling on OPEC and its oil-producing allies to boost production in an effort to combat climbing gasoline prices that they see as a threat to the global economic recovery. Biden’s national security adviser Jake Sullivan criticised the world’s major oil producers for what he …

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