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

The world will need 32.05 million barrels per day (bpd) of crude from its 15 members in 2019.

The oil giant is an important source of energy for European states trying to reduce their dependence on Russia.

The latest threat from President Trump is to slap tariffs on US$200 million worth of Chinese goods.

The market seems to be inadequately prepared for a rapid loss of exports.

The United States hasn'.t been able to persuade China—Iran’s biggest oil customer—to reduce Iranian oil purchases.

A rise in crude prices triggered by supply uncertainties could dampen demand for oil.

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

Bilateral trade between Canada and Saudi Arabia is worth more than $3 billion a year.

As the row deepens. oil was bound to become the center of attention. albeit briefly.

U.S. sanctions on Iran could push oil prices up to $90 per barrel later this year.