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

The JMMC is chaired by Saudi Arabia and is due to meet next on Sept. 23 in Algeria.

The OPEC remains positive on the overall oil demand.

OPEC expects that average oil production in Russia will be 11.15mn barrels per day in 2018 and 11.17mn barrels daily in 2019.

Much will depend on the European Union. which has vowed to resist US sanctions on Iran.

China'.s LNG import volume is soaring as it moves to fulfill growing domestic demand for gas.

The dollar. which is considered to be the international currency. becomes a risky tool for payments.

Total had previously withdrawn from the field in 2009 because of sanctions.

In July. Venezuela’s oil production came in lower than PDVSA had targeted. according to Argus Media.

Iran’s output was the lowest since April last year at 3.75 million bpd.

The Crystallex case has been closely watched by investors holding billions of dollars in Venezuelan bonds.