Tag Archives: Oil Price

Russia has promised to cut its daily oil output by up to 300.000 barrels in a gradual manner.

Committed energy investments are 2 per cent higher than last year’s projection for the 2016 to 2020 period.

Iran’s oil output is 976.000 b/d more than the 2015 average.

Iran’s light crude oil price rose by $1.24 in the mentioned period registering a record rise among other producing countries.

OPEC officials have repeatedly said the group does not target a specific oil price.

South Korea has been one of the backbone customers of crude oil from Iran.

Brent crude was 45 cents higher at $56.04 a barrel by 0950 GMT. U.S. light crude oil was up 35 cents at $53.28.

Given the growing demand for Iranian heavy crude. its price per barrel increased by 77 cents to be traded at 52.70 cents.

.The EIA had forecast small annual average supply builds in both 2017 and 2018

we have no problem to continue talks with Saudi Arabia on further coordination at the OPEC level