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

Moscow and Riyadh. a traditional US ally. have made a striking rapprochement in recent years.

The prospect of falling short of the $2 trillion valuation desired by Saudi rulers is widely considered the reason the IPO has been delayed.

Overall. 20 agreements were signed between the two nations across a variety of industry sectors.

A global oil output deal between members of OPEC and non-OPEC countries would be discussed at talks in Riyadh.

There were no talks underway to change the global output deal.

The organization will stick to the agenda of keeping oil prices at a ``sensible level`` in the future.

Russia. Saudi Arabia and the UAE are all part of the OPEC+ coalition.

The attack by Yemeni forces last month shut down 5.7 million bpd of Saudi Arabia’s oil production.

Satellites and artificial intelligence are changing every aspect of the oil industry and oil markets.

Ecuador’s oil reserves are estimated at 8.3 bln barrels of oil. Oil production in 2018 was at 517.000 barrels per day.