Tag Archives: Oil Price

Emerging-market crises and trade disputes could dent global demand.

Total OPEC oil production is expected to average 32.46 million b d in 2018. down 220.000 b d from 2017.

Concern that the U.S.-Chinese trade war could slow down economic growth and hit oil demand also weighed on the market.

Donald Trump recently accused OPEC of ``ripping off`` the world.

Brent has risen by more than 20 percent from its most recent lows in August.

Sanctions against Iran could contribute to a ``nasty gap`` in the market at year-end.

Exports to India accounted for 21 per cent of Iran’s crude oil outbound shipments in 2017-18.

Some traders are forecasting that the sanctions could remove up to 1.5 million barrels per day of crude from the market.

U.S. President Donald Trump increased pressure on OPEC to ``get prices down now!``

The U.S.. Russia and Saudi Arabia are also working together to make sure the world has access to affordable energy.