Tag Archives: International News Agency

The JMMC is chaired by Saudi Arabia and is due to meet next on Sept. 23 in Algeria.

Crude oil output in July dropped 2.6 percent on-year to 15.85 million tonnes. or 3.73 million bpd.

The move is in line with a transformational strategy pushed by Sinochem chairman Ning Gaoning to zero in on core assets.

OPEC expects that average oil production in Russia will be 11.15mn barrels per day in 2018 and 11.17mn barrels daily in 2019.

Some believe that China’s move aims to keep oil as a bargaining chip for future negotiations on tariffs or Iranian sanctions.

Last month. Saudi Arabia temporarily halted oil shipments through Bab al-Mandab citing security concerns after Yemen’s Houthis attack.

In June. Royal Dutch Shell exited the Majnoon oilfield in southern Iraq and handed over its operations to the state-run Basra Oil Co.

US President Donald Trump last month accused Germany of being a ``captive`` of Russia.

In July. Venezuela’s oil production came in lower than PDVSA had targeted. according to Argus Media.

The Crystallex case has been closely watched by investors holding billions of dollars in Venezuelan bonds.