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

Iraq. the second-largest oil producer of OPEC'.s 14 members. is also one of its most chronic over-producers.

Existing supply curbs of 1.2 million barrels per day. aimed at supporting oil prices and preventing a global glut. are set to expire in March.

Speaking on behalf of the Iranian nation. I would say this is the right of our people and nation and I would not agree with cutting even a barrel of oil for illogical reasons.

ompletion and operation of the Persian Gulf Star Refinery. as the largest gas condensate refinery in the world.

Only a few days is left before the unveiling of a big decision which will mostly determine the future of oil market in the upcoming year.

OPEC'.s ministers will meet in Vienna on December 5 and the wider OPEC+ group will meet on December 6.

The IPO will be priced on Dec. 5. the same day OPEC meets in Vienna. The OPEC+ grouping holds talks on Dec. 6.

OPEC+ oil exporters have coordinated output for three years to balance the market and support prices.

Any expectations that OPEC and its partners will make deeper cuts to oil production have all but evaporated.

OPEC’s own outlook reflected a surplus of around 70.000 barrels per day (bpd) next year.