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

Production from OPEC’s 14 members dropped by 221.000 bpd to 30.55 MMbpd in February.

International Brent crude oil futures marked a 2019-peak of $67.80 per barrel in Asian morning hours.

18 ministers had already confirmed they would attend the event.

Oil prices have been receiving broad support this year from supply cuts by OPEC and non-affiliated allies like Russia aimed at tightening markets.

The rebalancing of the global oil market was a work in progress.

The amount of crude OPEC is capable of pumping is also set to deteriorate.

Thanks to shale oil. the U.S. became the world’s largest crude oil producer and exporter for the first time in 2018.

The group will meet in Vienna on April 17-18.

Saudi Arabia is demonstrating extraordinary commitment to accelerating market rebalancing.

Saudi Arabia is demonstrating extraordinary commitment to accelerating market rebalancing.