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

In the near-term. the US seems to be counting on Saudi Arabia and Russia. along with American shale drillers. to offset the losses from Iran.

Saudi Arabia is expected to take the issue of balancing the market at the upcoming summit of OPEC.

Seeking to reverse a downturn in oil prices that began in 2014. OPEC. Russia and other allies decided in late 2016 to reduce supply.

U.S. President Donald Trump increased pressure on OPEC to ``get prices down now!``

At the last OPEC meeting in Vienna. the agreement was extended again until the end of 2018.

Russia’s output increase comes just days before it meets in Algeria with other members of the group known as OPEC+.

U.S. President Donald Trump linked American support for Middle Eastern countries to oil prices.

Two OPEC members are looking to damage the group and undertake policies against Tehran for the US.

The tariffs are likely to limit economic activity in both China and the United States.

Russia has already reversed most of its own production cuts as part of the deal.