Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

The U.S. will sell up to 12 MMbbl of oil from its emergency government stockpile just as global crude demand takes a hit from the spreading coronavirus.

Oil prices are moving tangentially to news flows around the deluge of secondary cluster outbreaks.

Gulf economies will grow at a slower pace than estimated this year as the coronavirus hurts oil demand. trade and tourism. Standard Chartered PLC said.

Saudi Arabia supports the further oil production cut. but Russia is yet to announce its final position on the matter.

Every member in the OPEC+ group is a responsible and responsive oil producer.

Iranian Minister of Petroleum Bijan Zangeneh says that coronavirus is to blame for recent price fluctuations in the oil market.

On Friday. Brent closed at $58.30 while WTI saw prices of $53.38 per barrel.

Iranian Minister of Petroleum Bijan Zangeneh discussed topics regarding the upcoming OPEC meeting with his Russian opposite number Alexander Novak.

The Iranian ambassador and permanent representative to international organizations in Vienna met with the OPEC secretary-general to discuss the oil market developments.

The two sides(Iranian Envoy. OPEC Chief) highlighted sustainability of the oil market serving the interests of both consumers and producers.