Tag Archives: Oil Production

The US ultimatum has also contributed to upward pressure on world oil prices.

OPEC and non-OPEC countries decided in late 2016 to cut output by 1.8 million barrels per day to boost oil prices.

Moscow and Riyadh recently announced their desire to pump more oil after a relative hike in prices.

The U.S. is unlikely to join with China and India. though it should.

The statement said the kingdom will coordinate with other producers.

The terms of the agreement reached last month were ambiguous.

The UAE'.s state oil producer and energy ministry pledged to help OPEC and allies meet any market shortages this year.

Trump warned close U.S. allies in an interview that aired on Sunday with a threat to sanction European companies that do business with Iran.

Rising gasoline prices could create a political headache for Trump ahead of the November elections.

Kuwait will raise its oil production by 85.000 bopd as part of a recently reached OPEC agreement.