Tag Archives: Oil Production

Libyan commander Khalifa Haftar blocked oil exports at ports under his control. slashing output by more than half and posing a potential setback for an international conference on Sunday that aims to broker an end to a civil war in the OPEC nation.

Libya has been torn apart between the two rival administrations since 2011.

Iran’s crude oil production at North Azadegan Joint Oilfield has reached 100 million barrels since 2016.

Saudi Arabia cut crude production to 9.68 million b d from 9.88 million b d in November.

Saudi Arabia’s energy minister said that OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels.

There is a concern that divestment from the industry will lead to critical resources not being developed.

Saudi Aramco’s status as an oil-producing behemoth always marked it as likely to suffer bouts of volatility.

OPEC members pumped 29.50 million barrels per day (bpd) last month.

Oil buyers in Asia are increasingly wary that Iraq’s entanglement in the worsening dispute between the U.S. and Iran could disrupt shipments from one of their key Middle East suppliers.

The U.S. airstrike that killed a powerful Iranian general and heightened tensions in the oil-rich region could boost the fortunes of troubled North American energy companies.