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

The number of rigs targeting gas rose by nine to 224. while the oil-directed rig total increased by 11 to 857.

The OPEC Secretary General Barkindo was Iran to visit the 24th Iran International Oil. Gas. Refining and Petrochemical Exhibition.

EIA data showed the inventories jumped almost 10 million barrels last week.

Russia is the only participant that can reduce production gradually as was the case in 2017.

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.