Tag Archives: Oil Production

Iran continues to export oil. especially to China.

Russia agreed to expand its 228.000 bpd in cuts by an additional 70.000 bpd for a total of about 300.000 bpd.

The OPEC+ decision to increase the reduction of oil output in the first quarter of 2020 was not linked to the Saudi Aramco IPO.

The zone was formally partitioned between Saudi Arabia and Kuwait in 1970.

Oil ministers from OPEC and non-OPEC partners during their last meeting in Vienna agreed to cut an extra 503.000 b d from their total production in a bid to help stabilize the oil market.

Iran is currently under sanctions and consequently its oil production has faced with restrictions. But Minister Zangeneh said Iran’s known oil and gas reserves should not be ignored in the mid and long-term.

The production capacity of Khark Petrochemical Plant is expected to increase by 100 tons per day once the facility starts consuming associated petroleum gas (APG) from Doroud III project.

The United States was a net oil exporter for the first time in decades in September.

The biggest reduction is expected to be in U.S. shale output.

The consumer price index in China. the main indicator for inflation. increased 4.5% in November.