Tag Archives: Oil Production

In July. Venezuela’s oil production came in lower than PDVSA had targeted. according to Argus Media.

In the short term. supply is not seriously impacted. given that Saudi Arabia. Russia ramped up their oil production.

At the last OPEC meeting in Vienna. the agreement was again extended until the end of 2018.

Currently. oil product exports are taxed on the basis of a percentage of the crude oil export duty. which is tied to the price of oil.

The word out of Washington is that the United States is no longer looking at sanctioning Venezuela’s oil industry.

Iraq has no option to export Kirkuk crude from the north of the country due to a political dispute with KRG.

Oil prices have recovered and the country’s economic collapse has left it unable to capitalize.

Russia produced 11.22 million b d in July. basically erasing its 300.000 b d pledged cut.

Iraq'.s refining capacity now stood at around 670.000 barrels per day.

Iran could restart its nuclear program as it attempts to agitate the U.S.