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

OPEC oil supply fell in December by 460.000 barrels per day (bpd).

A surge in OPEC production in late 2018 means the market started this year better supplied than the last.

Trump credits his own talent for having brought down oil prices.

For most of the past year. China and the US have been locked in a trade dispute disrupting the flow of goods.

Iraq oil minister has directed oil officials to take urgent measures to comply with the cuts.

The Saudis curtailed production by 420.000 barrels a day to 10.65 million last month.

In recent months. the Saudis increased production by more than 1 million barrels per day.

The country expects its total oil output to hold steady over the full year.

Brent is set to enter 2019 below $54 per barrel and is expected to trend lower amid surging US supply.

UAE remains optimistic about achieving a market balance during the first quarter of 2019.