Tag Archives: Market Share

The IEA said it looked in particular at Iraq. Nigeria. Russia. Saudi Arabia. the United Arab Emirates and Venezuela.

Sanctions on Iran are expected to remove about 1 million barrels a day from the world market by the end of the year.

U.S. crude oil production has climbed by almost a third since mid-2016 to around 11 million barrels per day.

In the near-term. the US seems to be counting on Saudi Arabia and Russia. along with American shale drillers. to offset the losses from Iran.

Russia’s output increase comes just days before it meets in Algeria with other members of the group known as OPEC+.

Two OPEC members are looking to damage the group and undertake policies against Tehran for the US.

Venezuela. which pumped 1.22 million b d in August. could see output fall to 1 million b d in 2019.

OPEC'.s next regular meeting is December 3. with non-OPEC partners scheduled to join the talks December 4.

For 2020. Barclays said it expects Brent to average $75 per barrel. up from its previous forecast of just $55 a barrel.

Chinese companies have invested in Iraq. the United Arab Emirates and Iran in recent years.