Tag Archives: Oil Production

Saudi Arabia and Russia are considering extending the agreement to potentially cover all of next year.

Chevron last week reported a net profit of US$ 1.95 billion. up by an impressive 52 percent on the year.

Over the last couple of years. Big Oil has demonstrated more than once that it’s set on becoming more flexible. leaner. and more efficient.

Rising U.S. crude production remains an issue for OPEC as it strives to clear a global overhang.

The cartel and its allies. which together control more than half the world’s oil output.

The amount forms 8 percent of the world reserves. and 50 percent of the gas reserves in Iran.

The schema of the energy policy in Obama administration was a global scale plan for dealing with challenges of the energy scarcity.

Output is falling. cash is drying up and oil workers have fled the country because of food shortages and violence.

Each of the U.S. producers acting individually can only impact a fraction of a percentage of the world oil market.

The agreement comes amid tensions over Kurdish claims to sovereignty with reports of armed clashes between Kurdish forces and Iraqi government troops.