Tag Archives: International

The group is ``extremely assured. optimistic`` for oil in the short and medium term. with investments flowing back sooner than later.

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

OPEC was discussing ‘soft targets’ of around 1.8 million bpd for Nigeria and 1 million bpd for Libya.

Nigeria would support an output cap for itself at 1.8 million b d and would continue to be responsible with its production.

Libya and Nigeria. both OPEC member states are exempted from the obligation to cut production within the deal.

".Whatever the agreement will be. we will support it.". the minister said.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Oil market was in a much better position than it was last year. which was a result of producers complying with the cuts.

Total. now expects the production from the Martin Linge field to begin in the first half of 2019.