Tag Archives: International

Oil prices have risen by more than 20% since September on the back of expectations for a deal extension.

Iraq is the second-largest crude oil producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia.

Ten non-OPEC countries will attend the meeting of OPEC+ in Vienna on November 30 to discuss increasing the number of the deal’s participants.

The market had been looking forward to a supportive number due to the pipeline disruption from Canada.

Saudis want production cuts extended through 2018. while Moscow wants flexibility.

Despite the US pressures. western companies are still interested in investment in Iran.

Oil markets are already showing jitters over the OPEC meeting this week.

Tehran has intensified efforts to involve foreign oil and gas majors in its key petroleum industry.

Vladimir Putin could send oil markets into a spin by pulling out of the planned extension to the current OPEC-led production cut.

OPEC. Russia and several other major producers have cut their combined output by about 1.8 million barrels per day since January.