Tag Archives: Oil Market

Venezuela’s production has almost halved in two years to 1.17 million bpd.

OPEC and Russia have been cutting production together to support prices since 2017.

Japan relies heavily on imports from the Middle East.

PDVSA and Maduro’s government could have a much harder time finding destinations for Venezuelan oil than first thought.

The sanctions aim to freeze sale proceeds from PDVSA’s exports of roughly 500.000 barrels per day of crude to the United States.

Russia and Saudi Arabia have been steadily developing economic cooperation over recent years.

China is trying to stem the slowdown with aggressive fiscal stimulus measures.

The compliance with the agreed output cuts will be key to balancing the market in 2019.

Dudley believes the oil market is tightening up.

Brent prices climbed last week on optimism a thaw in China-US relations will help sustain global growth.