Tag Archives: Oil Price

The oil price was lower at the beginning of the year than today.

Saudi Arabia and Russia are reportedly nearing an agreement to jointly increase oil production in the upcoming period.

Barkindo took over as Secretary General of OPEC in August 2016.

Higher oil prices are a key risk to the growth outlook.

Algeria spent $2 billion on imports of refined products 2017.

Currently. analysts believe the sanctions could take between 200.000 and up to a million bpd of Iranian crude off global markets.

Economists and investment bankers believe a 10% increase in oil price could raise inflation by 0.2-0.3%.

Saudi Arabia is ready to offset any supply shortage but it will not act alone to fill the gap.

Experts believe that the US move would bring uncertainty to prices.

Iran is one of the world’s largest oil producing countries.