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

It is always hard to predict the future and a lot will depend on how the global economy will perform.

The extension of the OPEC+ cuts through the first quarter of 2020 removes a major uncertainty.

Any slowdown in global economic growth will put the brakes on demand for oil.

OPEC. Russia and other producers have since Jan. 1 implemented a deal to cut output by 1.2 million bbl d.

The demand for OPEC crude oil in early 2020 could fall to only 28 million bpd.

Most of Iraq’s oil is shipped through southern terminals.

Despite the rise in the June production. Russia was still complying. for a second month. with its pledge under the OPEC+ deal.

The CEOs of oil companies are in a tight spot.

Both Iran’s and Venezuela'.s production woes have contributed significantly to the cartel’s over compliance to the group’s production cut quota.

Saudi Arabia. with the world’s biggest reserves of conventional crude. has long drawn on its prolific deposits to help balance global oil markets.