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

The U.S. seeks to reduce Iranian oil exports to zero even for a month.

The threats of disruption as well as the early supply cuts have helped to lift Brent crude futures to nearly $80 a barrel this month.

The Trump administration is pushing politics into the OPEC.

The OPEC monopoly must get prices down now!`` Trump wrote on Twitter.

OPEC and non-OPEC countries had agreed to review current oil production as a countermeasure to the lack of Iranian oil caused by the US sanctions.

Iran argues one member has no right to steal the quota of another.

Compliance with supply cuts was 109% in July.

The panel is also unlikely to decide how to distribute the output increase of 1 million barrels per day decided when OPEC and allied producers last met in June.

OPEC and its non-OPEC allies will gather in Algeria over the weekend to review compliance with existing cuts.

Saudi Arabia has made the mistake of trying to compensate for the loss of Iranian supplies with just-in-time replacement.