Tag Archives: Oil Supply

An increase because of external pressure on OPEC is not acceptable.

The 5-year average is close to balance because of OPEC-led efforts to drain the surplus.

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

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

Venezuelan crudes are mainly used for asphalt production in China. the demand for which peaks over September-November.

OPEC officials in Kuwait just a few days ago tried to hash out a strategy ahead of the June 22 meeting.

The United States has threatened to impose secondary sanctions on European companies doing business with Iran.

The agreement has helped raise oil prices to above $80 a barrel and reduce a global oil supply glut.

Oil prices surged on Wednesday. shrugging off an unexpected build in U.S. crude stockpiles.

The decision to keep cutting or start ramping up needs to be unanimous.