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

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.

Oil slumped as escalating trade hostilities between the U.S. and China stoked fears of slowing global growth.

Forecasters at these major oil organizations simply do not understand that we are in a new age of rapid technological advancement and innovation.

OPEC and some allies including Russia are due to meet next month to discuss output policy going forward.

There is great anxiety in the market today mainly related to supply concerns.

In oil futures markets. the trade war effect is better seen beyond the spot market.