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

Two of OPEC’s members. Libya and Nigeria. have asked to be exempt from the cuts like they were for the last round of cuts.

OPEC delegates have said the group and its allies could cut by 1 million bpd if Russia contributed 150.000 bpd of that reduction.

The Saudis are working hard on the cut. But if Russia says no cut. then OPEC won'.t cut.

The fiscal deficit continues to narrow in Saudi Arabia.

Iran will not take part in any cuts while there are U.S. sanctions on its oil.

Russia would eventually agree to cut its oil production.

Qatar has minimal spare capacity so its exit won'.t affect the volume of oil supply in the market.

Qatar has minimal spare capacity so its exit won'.t affect the volume of oil supply in the market.

Oil ministers from the Organization of the Petroleum Exporting Countries meet on Thursday in Vienna.

OPEC said it remains fully committed to achieving and sustaining balance and stability in the market.