Tag Archives: Oil Production

The budget deficit will widen to 6.4% in 2020 from 4.7% in 2019 as the government earns less from oil.

The largest and most significant single driver for all financial asset classes for next week will be the outcome of US-China trade negotiations.

At the Vienna meeting. OPEC+ agreed to reduce its output target by 500.000 barrels a day in the first quarter.

The key uncertainty facing the oil market now is OPEC+ supply from April.

Tehran will never back down on its right to produce and export oil after the unilateral sanctions are lifted.

The 14-member Organization of the Petroleum Exporting Countries (OPEC) agreed to deepen its output cuts in Vienna at the 177th OPEC meeting by 503.000 bd as of January 1. 2020 from 1.2 mbd to 1.703 mbd.

There are plans to involve the companies Beicip Franlab and IFP Training in the development of hard-to-recover oil reserves in Yugra.

The challenge for OPEC+ is the strong supply growth elsewhere in the world.

Iraq. the second-largest oil producer of OPEC'.s 14 members. is also one of its most chronic over-producers.

Only a few days is left before the unveiling of a big decision which will mostly determine the future of oil market in the upcoming year.