Tag Archives: Oil Supply

Now Russia and Saudi Arabia are discussing opening the taps by an extra million barrels per day.

In the currency market. the euro bounced back from a low of $1.1646 touched on Friday to trade at $1.1685.

Concerns raised by the United States that oil prices were too high also made the exporting group start internal discussions.

OPEC’s production increased by 12.000 bpd in April over March. to average 31.93 million bpd in April.

OPEC’s production increased by 12.000 bpd in April over March. to average 31.93 million bpd in April.

After the last round of sanctions were announced in 2011. Saudi Arabia boosted its production.

A rise in geopolitical tensions has been the main driver of prices in recent times.

Syria is not the only hot spot that is driving oil prices higher up. but it is certainly the hottest.

Saudi Aramco. the world’s biggest oil producer. is moving to invest in refineries overseas to help lock in demand for its crude.

Baghdad depends on the oil sector for more than 90 per cent of its revenue.