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

OPEC’s own researchers forecast a demand slump ahead.

Demand for OPEC crude will average 29.40 million bpd in 2020. down 1.2 million bpd from this year.

Iran'.s crude exports and production have plummeted because of the sanctions.

The 24-member OPEC and non-OPEC alliance decided last year to cut production by 1.2 million barrels per day (bpd) from January 2019.

Oil demand growth will be ``significantly higher`` helped by a comparatively low base in the second half of 2018.

Russia highly appreciated the existing dialogue between Moscow and Riyadh and was committed to continuing to develop bilateral cooperation.

The OPEC+ joint ministerial monitoring committee. known as JMMC. meets on Thursday in Abu Dhabi on the sidelines of an energy conference.

The demand for OPEC crude will average 29.40 million barrels per day next year.

Iraq is on track to produce nearly six million barrels of crude per day by 2030.

The oil market has become highly sensitive to the US-China trade war.