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

Mr Barkindo was first elected as Secretary General of the bloc in 2016.

The Russian Ministry of Energy expects that OPEC+ countries will come to a consolidated decision on Tuesday.

Iranian Petroleum Minister Bijan Zangeneh in various meetings with his counterparts reviewed oil market development.

OPEC nations are bearing the burden of the market-share loss unevenly.

Iran is content with the current oil price but the country under US sanctions wants to boost oil exports.

Iran had no problem with output cut. slamming ".unilateralism". as the biggest problem in the Organization.

Russia agreed with Saudi Arabia to extend by six to nine months a deal with OPEC on reducing oil output.

The deal removed 1.2 million barrels a day of OPEC+ production. helping to send oil prices higher.

The two sides will discuss their oil policies at the meeting scheduled for July 1-2 in Vienna.

China and India are among the world’s top oil consumers while Russia supplies oil to both of those nations.