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

All members remain focused on OPEC'.s principal objective to ensure stability at all times in n the oil market.

The United States has demanded that buyers of Iranian oil stop purchases by the start of May or face sanctions.

Saudi'.s oil production would be much lower than 10 million bpd until the end of next month.

Saudi Arabia’s fiscal break-even could be as high as $95 per barrel this year.

The alliance between the two Asian countries is likely to bode well for other Asian oil importers too.

Nations in Asia are mostly dependent on West Asian producers for their demand for oil.

The cuts have been supported by some non-OPEC producers. most notably Russia.

The 21-mile Strait of Hormuz at the mouth of the Persian Gulf handles roughly 40% of global crude trade.

Countries that do not stop buying oil from Tehran after the deadline risk facing Washington sanctions.

The main theme of the event is production boom in the country.