Tag Archives: Fatih Birol

OPEC member Venezuela last year produced more than 2 million bpd.

In Asia. America’s closest allies Japan and South Korea have followed suit for now.

There is a great need for oil and gas nations to diversify their economy.

Producers have already done a lot to ensure the market is well supplied.

The IEA said it looked in particular at Iraq. Nigeria. Russia. Saudi Arabia. the United Arab Emirates and Venezuela.

There’s a strong challenge for the key producers to increase production and comfort the markets.

OPEC agreed in June to boost supply to make up for the expected disruption to Iranian exports.

Renewable growth will be largely driven by China. which is predicted to be responsible for 41% of expansion.

The IEA cut its estimate for global oil-demand growth for both 2018 and 2019.

Birol has welcomed efforts by top OPEC producer Saudi Arabia to increase output.