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

The Saudis have vowed to keep production well below 10 million bpd.

China had seen a rapid pace of growth in imports of US crude.

A shutdown in the rigs will put pressure on Nicolas Maduro’s administration.

OPEC and its allies have a deal to limit supply until March 2020.

U.S. sanctions are definitely changing production and price patterns in heavy crude and so is U.S. production.

The Average of Iranian crude oil prices from the beginning of 2019 has been $63.15.

Russian exports to India jumped fivefold to 3 million tons in the year ending March 2018.

The U.S.-China trade war has caused energy demand growth to take a big hit.

While geopolitical tensions in the Middle East Gulf remain high. with US sanctions recently extended to more Iranian officials and a Chinese oil importer. as well as another tanker seizure.

OPEC can no longer ignore Russia because of its importance as an oil exporter and its economy.