Tag Archives: International

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.

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.

Libya has lost 450.000 barrels per day (bpd) of oil production due to clashes at the oil terminals of Es Sider and Ras Lanuf.

Pradhan said India will raise the issue of the recent fuel price hike at the OPEC meeting.