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

Now prices are higher than they were in January.

Last year. China'.s crude oil imports surged 10.1 percent year-on-year to 460 million tons.

Iran’s production has declined by 860.000 bpd since the third quarter of 2018.

The liquefied natural gas spot prices decreased by more than half since September.

Beyond OPEC. oil prices have been boosted by U.S. sanctions against OPEC members Iran and Venezuela.

OPEC+ is scheduled to meet in the Austrian capital of Vienna in April for an extraordinary general meeting.

The event then will feature a presentation on the pace of oil market development.

OPEC+ provides main support to the oil market.

Russia will cut production by 228.000 barrels per day.

The JMMC includes major oil producers Saudi Arabia and Russia and monitors the oil market and conformity levels with supply cuts.