Tag Archives: Oil Market

OPEC welcomes the reappointment of Alexander Novak as Russia’s Energy Minister as part of the new government.

Crude oil output from OPEC would dip to 29.6 million barrels per day in 2020.

Just shy of $100 a barrel -- that’s the cost of a type of crude that’s become prized thanks to the scramble for cleaner-burning fuels.

The oil market has been driven in recent years by a surge of non-OPEC production that has outstripped demand.

Saudi Arabia cut crude production to 9.68 million b d from 9.88 million b d in November.

Other important products heavily exposed to disruption to shipping in the Strait of Hormuz include monoethylene glycol (MEG). ethylene and methanol.

OPEC. Russia and nine other countries are entering their fourth year of production cuts aimed at supporting oil prices.

There is no more reliable and responsible supplier than Saudi Arabia.

Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated.

Instability had spurred a price rise in the oil market. and Psychologically speaking. there is somewhat of an upward trend in oil prices currently.