Tag Archives: Oil Market

Iran'.s share of OPEC production increased slightly last month.

Surging oil demand. particularly in the case of China. is likely to surprise the market to the upside.

OPEC officials in Kuwait just a few days ago tried to hash out a strategy ahead of the June 22 meeting.

The Russian leader thanked the Crown Prince for the initiatives on development of Russian-UAE hi-tech cooperation.

OPEC governors meet next in October.

Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by 1 million barrels a day.

Oil prices declined by more than 6 percent in the last few trading days.

Since last year. oil producing countries have cut back production in an attempt to offset dipping prices.

Now Russia and Saudi Arabia are discussing opening the taps by an extra million barrels per day.

Move follows pressure from US as prices breach $80 a barrel.