Oil

Within OPEC. Saudi Arabia has shouldered the burden of the production cuts. offsetting poorer compliance by other nations.

The field holds 2.5 billion barrels of crude oil and is expected to produce up to 65.000 bpd.

Enhanced oil recovery is the implementation of various techniques for increasing extraction from an oilfield.

Iran is firm in its self-proclaimed mission to reach pre-sanction levels of oil output and exports.

Joint projects will be implemented in the sectors of energy. transport and transit traffic.

Despite the supply adjustment. stocks have continued to rise. not just in the US. but also in Europe.

Azer is a joint field betüeen Iran Iraq. with 2.5 billion barrels of in-situ reserves and 16 percent recovery rate.

In 2017. non-OPEC oil supply is projected to grow by 0.40 million barrels per day.

According to OPEC’s deal. Iran was allowed to increase its oil output by 90.000 b d to 3.797 mb d in 1H17.

The market is bearish because sentiment has turned