Tag Archives: International Organizations

Rystad Energy forecasts that some operators in Venezuela will run out of naphtha by this month.

Egypt became a major consumer of the fuel in 2015.

OPEC members agreed to trim 800.000 barrels a day from October’s production levels for six months through June of this year.

The IEA warned that the oil industry is in danger of creating a major supply gap in the 2020s.

Production from OPEC’s 14 members dropped by 221.000 bpd to 30.55 MMbpd in February.

International Brent crude oil futures marked a 2019-peak of $67.80 per barrel in Asian morning hours.

18 ministers had already confirmed they would attend the event.

Oil prices have been receiving broad support this year from supply cuts by OPEC and non-affiliated allies like Russia aimed at tightening markets.

The rebalancing of the global oil market was a work in progress.

The Tuesday meeting will cover discussions on ways of cooperation between the two institution.