Tag Archives: Oil Market

The Russian minister sees next year as «a year of balance».

The world’s biggest LNG producers are Qatar. Australia and Malaysia. which together meet around 60 percent of global demand.

Russian officials voiced some skepticism in the lead-up to the most recent extension.

OPEC doesn’t expect significant drawdowns in oil inventories in the first quarter of 2018.

China is by far the world’s largest oil importer. and many producer nations are already more than happy to transact in yuan terms.

Novak was a key driver of the push for Libya and Nigeria. whose surging production earlier this year helped to crash oil markets.

Under the current deal the producers are cutting supply by about 1.8 million barrels per day (bpd).

Saudi Arabia and Iraq are respectively the biggest and second biggest producers of OPEC.

US crude production set to touch 9.9m bpd this month. well above EIA forecasts.

U.S. shale oil producers could increase production if oil prices rise.