Tag Archives: International News Agency

Saudi Arabia will continue to increase oil production in order to achieve moderate prices.

Other OPEC countries have been increasing production in recent months.

The analysts at Goldman Sachs expect the OPEC producers and Russia to compensate for the drop in Iranian oil supplies.

Russia. a major oil and gas producer. pumps around 11 million barrels of crude per day.

SPR releases are a short-term solution but they do buy some time for OPEC countries to bring additional spare-capacity on line.

The sanctions are expected to impact Iranian oil exports.

India’s refining capacity would increase to about 439 million tonnes per year by the financial year of 2030.

The United States began reimposing economic sanctions this summer.

China’s refining capacity will grow to 880 million tonnes a year. equivalent to 17.6 million barrels per day. by 2020.

Some traders are forecasting that the sanctions could remove up to 1.5 million barrels per day of crude from the market.