Tag Archives: Oil Market

At the last OPEC meeting in Vienna. the agreement was extended again until the end of 2018.

Russia has already reversed most of its own production cuts as part of the deal.

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

Sixteen countries have been invited to the meeting of the ministerial monitoring committee of OPEC +.

This winter could turn out to be a hot one indeed for oil markets.

Trump’s efforts to cut Iran’s access to the global crude market has prompted Russia and Saudi Arabia to take the market hostage.

Saudi Arabia lifted output by 70.000 bpd to 10.42 MMbpd last month.

The US is attempting to bring Iran’s oil sales to zero by imposing banking and transportation restrictions.

Russia could raise output by 300.000 bpd.

Perry will be the most senior U.S. official to visit Russia since Trump met Russian President Vladimir Putin in Helsinki in July.