Tag Archives: Oil Production

PDVSA uses naphtha from the US to thin its heavy crude so it can be shipped.

Oil Rises amid US Lower Imports. Venezuela Sanctions.

The sanctions aim to freeze sale proceeds from PDVSA’s exports of roughly 500.000 barrels per day (bpd) of crude oil to the United States.

China is trying to stem the slowdown with aggressive fiscal stimulus measures.

The compliance with the agreed output cuts will be key to balancing the market in 2019.

Some energy industry officials are pressuring the Trump administration to hold off.

The US became a net exporter of natural gas on an annual basis in 2017.

As the world’s top crude oil exporter. Saudi Arabia will not be giving away easily its crown and the geopolitical clout that comes with it.

The rise in prices thanks to output cuts has brought roughly an additional $110 billion in revenues to Russia.

Dudley believes the oil market is tightening up.