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

The Indian market is crucial for Venezuela’s economy.

China and the U.S. would lead healthy global demand for oil this year.

Production in U.S. hit a record of more than 12 million bpd in February.

The UAE’s output at the end of January according to secondary sources cited by OPEC was 3.078 million bpd.

OPEC and its partners decided to extend its production cuts till the end of 2018 in Vienna on November 30.

OPEC is likely to push back their decision of whether or not to extend the output cut agreement to June from April.

Both countries agreed to continue coordinating steps on the global oil market in the OPEC+ format.

OPEC exports are off by over 1.5 million barrels per day (bpd) since November.

The shale revolution has made the US the world’s top oil producer and is reshaping the global oil market.

US plans to sell up to 6 million barrels of crude oil from the Strategic Petroleum Reserve in April.