Tag Archives: Oil Price

US tight oil production has exceeded previous growth expectations and is currently forecast to contribute to a rise in overall US liquids by some 0.6 mb d in 2017 and then 0.9 mb d in 2018.

Iran'.s oil production is about 3.9 million barrels a day. including the 2.2 million barrels exported.

Saudi Arabia and Russia are considering extending the agreement to potentially cover all of next year.

Oil will trade at $50 to $60 a barrel for the ``medium term.`` the IMF said.

While China pushes for the petro-yuan. Russia is also making moves which could have serious implications for the U.S. dollar.

Saudi Arabia is on course with a Saudization policy that aims to reduce its reliance on immigrant labor in the public and private sector.

With OPEC-led supply cuts supporting prices. but rising U.S. production capping crude. many analysts see markets balanced in 2018 and 2019. with Brent in a $50-$60 range.

The agreement comes amid tensions over Kurdish claims to sovereignty with reports of armed clashes between Kurdish forces and Iraqi government troops.

Oil prices have fluctuated this year. falling below $45 a barrel and going above $59.

Alekperov is Lukoil'.s largest shareholder and owns about a quarter of the firm.