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

China was given a waiver to import around 360.000 bpd from Iran during the exemption period.

The Kirkuk area in northern Iraq produces about 230.000 bpd for local refining.

Saudi Arabia. the world'.s largest exporter. has claimed that it can respond to the Iranian shortfall.

Vitol has now revised down its oil demand growth forecast for next year to 1.3 million bpd.

Saudi Arabia is the only producer with significant spare capacity around 2 million bpd.

The most crucial difference between Goldman and some other forecasters is the confidence in emerging market demand.

The oil market ran higher in anticipation of this week’s formal re-imposition of sanctions against Iran by the United States.

The United Arab Emirates (UAE) is seeking to increase its oil output by 5 million barrels per day by 2030.

Iran exported the equivalent of 2.5 million barrels a day in April.

Unlike traditional oil. shale oil is more capital-intensive.