Tag Archives: Oil Production

GCC countries are thinking about the need to replace lost Iranian barrels.

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

Russia and Saudi Arabia are set to open the football world cup. which kicks off in Russia on Thursday.

Russia has received significant additional earnings from a 40% increase in oil prices over the course of the production cut deal.

Many nations have gone further than their pledged cuts.

OPEC on Tuesday said that the oil market outlook in the second-half of 2018 is highly uncertain and warned of downside risks to demand.

Crude oil production in Venezuela is practically falling at an average of 10% every quarter and has been since mid-2017.

The next meeting of the parties to the deal will be held on June 23 in Vienna.

OPEC'.s own oil production rose slightly in May. the monthly report showed.

Iran'.s share of OPEC production increased slightly last month.