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

The Qayara oil field was shut-in for years until last year. due to the war with Islamic State.

Russia can bring ``a couple of hundred thousand barrels`` in the short term.

India. Iran’s second-biggest oil client behind China. has already reduced its intake of Iranian oil.

Saudi Arabia will continue to increase oil production in order to achieve moderate prices.

Other OPEC countries have been increasing production in recent months.

Markets could still be underestimating the supply crunch from Iran sanctions.

The analysts at Goldman Sachs expect the OPEC producers and Russia to compensate for the drop in Iranian oil supplies.

SPR releases are a short-term solution but they do buy some time for OPEC countries to bring additional spare-capacity on line.

The sanctions are expected to impact Iranian oil exports.

Saudi Arabia pledged in June to increase its crude oil production to help rein in prices.