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

Oil traders are looking at the evolution of the category 4 Hurricane Florence. which is expected to make landfall in the USA coast by Friday.

Despite the lower purchases. Iran remained the third biggest oil supplier to India in August.

Iran’s key customers in Asia—no.1 China and no.2 India—are not expected to cut off their imports of Iranian oil.

Russia could raise output by 300.000 bpd.

Libyan crude has been seen as an additional alternative to Iranian supplies.

OPEC and non-OPEC technical committee will discuss proposals for distributing the additional oil-output amongst members.

Perry will be the most senior U.S. official to visit Russia since Trump met Russian President Vladimir Putin in Helsinki in July.

The country’s refining capacity is currently at more than 700.000 barrels a day.

With US rig activity stalling and Iran sanctions looming. the oil market outlook is tightening.

OPEC. Russia and other non-members agreed in June to return to 100 per cent compliance with oil output cuts that began in January 2017.