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

Iraq’s fragile security situation may limit its plans to expand oil-production capacity in the medium-term.

Saudi Arabia’s energy minister said that OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels.

OPEC. Russia and nine other countries are entering their fourth year of production cuts aimed at supporting oil prices.

There is no more reliable and responsible supplier than Saudi Arabia.

Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated.

There is a concern that divestment from the industry will lead to critical resources not being developed.

OPEC members pumped 29.50 million barrels per day (bpd) last month.

OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.

Oil in New York capped its biggest annual increase since 2016. as OPEC’s production cuts tempered supplies while a trade pact between the U.S. and China.

Russia agreed to expand its 228.000 bpd in cuts by an additional 70.000 bpd for a total of about 300.000 bpd.