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

Trump’s support is the key to the political fortunes of MBS.

Russia has for years been cooperating with OPEC. helping to engineer a rebound after a 2014 oil price slump.

Riyadh has suggested OPEC and its allies reduce output by 1 million barrels per day from January 2019 to stem the price falls.

OPEC and non-OPEC oil producers will hold a ministerial meeting Dec. 6-7.

The production decline is the first since the beginning of this year.

A slowdown in oil demand growth is compounding the emerging oversupply.

A decision on the production policy in 2019 can be reached at an OPEC+ ministerial meeting in Vienna on December 6-7.

Saudi Aramco plans to boost its gas production to 23 billion standard cubic feet (scf) a day from 14 billion scf now.

OPEC and other major producers are considering coordinated output restrictions to stem a further drop in prices.

Crude reserves increased 6.4 billion barrels. or 19.5 percent. to 39.2 billion barrels at year-end 2017.