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

The group'.s total output declined by 1.3% last year.

Increasing trade friction and potential barriers would certainly have a negative impact on the global economy and oil demand growth.

Russia’s exports to countries outside the former USSR in May dropped to 20.17 MM tons.

Qatar is taking steps to proactively develop its solar power generation.

Amid the ongoing fears of an escalating trade war between China and the United States. the Energy Information Administration countered the price decline potential of the China factor.

OPEC’s oil production dropped to a 2015 low of 30.17 million bpd in May.

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower on Friday amid an escalation of geopolitical events

OPEC and its allies including Russia are scheduled to meet on June 25-26.

Despite lower supplies. crude oil has fallen from a six-month high above $75 a barrel in April to below $68 on Thursday.

OPEC. Russia and other producers agreed to cut output by 1.2 million barrels per day (bbl d) from January for six months to boost oil prices by reducing global inventories.