Tag Archives: Oil Market

OPEC'.s combined water-borne shipments of nearly 24 million barrels a day in March were up slightly from October levels.

In February Iraqi reserves increased to 153 billion barrels.

MENA markets remained sluggish in April due to drop in trading liquidity and poor investments from both domestic and international investors.

The oil market needs more time to start using up stored inventories. which are on the verge of declining.

The Iran palm oil market was $232.25 million in 2015 and is anticipated to reach $615.72 million by 2025.

Oil discoveries fell to 2.4 billion barrels in 2016. compared to an average of 9 billion barrels over the past 15 years.

The Organization of the Petroleum Exporting Countries (OPEC)meets this month to discuss oil supply policy.

A number of major Middle East crude producers countries reached an initial agreement last week to extend output cuts beyond their June expiry.

Extension of the OPEC deal in May is quite likely. because OPEC and non-OPEC partners will be under pressure to extend it.

Iraq has started work on the third and final phase of the Halfaya oil field expansion.