Tag Archives: Oil Production

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

Nigeria would support an output cap for itself at 1.8 million b d and would continue to be responsible with its production.

Libya and Nigeria. both OPEC member states are exempted from the obligation to cut production within the deal.

".Whatever the agreement will be. we will support it.". the minister said.

Russia is the producer everyone is watching ahead of the OPEC meeting.

Ten non-OPEC countries will attend the meeting of OPEC+ in Vienna on November 30 to discuss increasing the number of the deal’s participants.

The market had been looking forward to a supportive number due to the pipeline disruption from Canada.

Saudis want production cuts extended through 2018. while Moscow wants flexibility.

OPEC. Russia and several other major producers have cut their combined output by about 1.8 million barrels per day since January.

Venezuela is ordering its embassies around the world to renegotiate rents at their diplomatic missions.