Tag Archives: Economy

Saudi Arabia and its allies are now considering cutting output by 1 million to 1.4 million barrels per day.

The US is now pumping an unprecedented 11.6 million barrel per day (bpd) of oil.

Egypt is investing in a processing plant on the Red Sea that could produce some four million tonnes of petro-products a year.

In current circumstances. many products that Iran cannot import from Europe are now available in borders.

Venezuela’s crude production could soon sink to below 1 million bpd.

Clean energy sources could also account for more than 40% of total generation in the global power mix by this date.

OPEC in recent months has been wracked with internal disputes.

Oil prices at $70 or above is never the best choice for the consumers and Russia is in that camp.

EIA predicts that U.S. production will increase to 12 million barrels per day in the second quarter of 2019.

Exxon still sees a bright future for the oil industry. with 2.5 billion people set to enter the middle class in the next 20 years.