Tag Archives: Market Share

Saudi rulers likely also would like to keep oil prices stable ahead of the planned IPO of state oil company Saudi Aramco expected next year.

France'.s Total signed a $4.8-billion contract in July to develop the South Pars Gas Field.

Exports to Europe are set to drop 39 percent to 510.000 bpd in October from a month earlier. Exports to the Middle East will hold at 111.000 bpd.

A more significant development was Russia agreeing to some yuan-based oil trade in 2015. also the result of U.S. sanctions.

Each of the U.S. producers acting individually can only impact a fraction of a percentage of the world oil market.

The world’s fifth-biggest crude importer shipped in 1.83 million tonnes of crude oil from Iran in September.

Iran is growing its production. as it was allowed to pump an additional 90.000 bpd based on its October production level under the OPEC cut deal.

OPEC realized the importance of working with Russia two decades ago. but the Russians did not understand the importance of working with OPEC until lately.

Russia and China are growing their partnership and investment links as Moscow scrambles to find ways to fund oil and gas projects that are made difficult under Western sanctions.

OPEC is to meet in November to discuss a possible extension of the deal beyond March.