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

Major multinationals are closing operations in China.

OPEC and 10 allies agreed in December to implement 1.7 million b d of production cuts for the first three months of 2020.

Jet fuel demand has slumped in Asia as airlines have cancelled connections.

OPEC members are considering holding an emergency meeting next month. as oil prices sink on concern the coronavirus outbreak will hit demand.

Libya’s Central Bank Governor Sadiq Al-Kabir called on the international community to help end a week-long shutdown of oil ports by eastern military commander Khalifa Haftar. likening the closures to a bullet in the head.

Petrobras has a lot of oil and lot of areas to exploit. but it doesn’t have enough funds to prospect all these areas.

The purpose of signing these contracts is to solve the problems of the fields considered in the deals and enhancing their recovery factor.

Brazil. which became a net oil exporter last year. wants to expand its footprint in global energy markets without joining OPEC.

Economic conditions in the Gulf region are expected to moderately improve in 2020.

OPEC+ is due to meet in Vienna on March 5 and 6 to set their policy.