Tag Archives: International Organizations

The parties will discuss possible increase of oil production.

U.S. President Donald Trump has called on OPEC to raise production to cool down oil prices.

OPEC. together with other key producers including Russia. started withholding output in 2017 to prop up prices.

Zanganeh said that Iran would try to maintain its export levels in the face of US sanctions.

Most of the shortfall has come from Venezuela. where an economic crisis has savaged the nation’s petroleum production.

Falih said any raising of output would be measured.

Higher oil prices help U.S. shale producers.

An increase because of external pressure on OPEC is not acceptable.

The condition means no other country has the right to compensate for another country’s oil production decrease.

The market is now stuck in an OPEC-wary condition.