Tag Archives: Oil Market

Barkindo said consultations are under way for the extension of OPEC output cut deal beyond March 30. 2018.

The reductions will be on the same terms as those agreed in November.

The geopolitical reality in the Middle East is changing dramatically.

OPEC ministers attending the Moscow event said they were considering extending the deal or making a deeper cut.

The market share that Saudi Arabia has lost in China is a result of the Kingdom’s current policy to try to boost oil prices.

PDVSA owes some US$3.5 billion to the U.S. in the next five or six weeks. according to Platts.

Bilateral meetings will also be held on the sidelines of the event.

The OPEC leader has lost ground to rivals selling in some of its key Asian export markets. most particularly China and India.

Libya and Nigeria have collectively added about 550.000 bpd since the original deal was agreed to last year.

Iran also plans to introduce its new heavy crude grade from the West Karoun oil field as soon as six months from now.