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

This commitment to a balanced market and a sustainable stability remains our key objective.

OPEC. together with its allies. has been withholding production since the start of the year to prop up the market.

Russia’s average daily oil output has dropped to a three year-low in June.

The Kingdom is closely monitoring recent developments in the oil market.

Other energy prices. like coal and gas. are also being hit hard by the downturn.

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.