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

For 2020. Barclays said it expects Brent to average $75 per barrel. up from its previous forecast of just $55 a barrel.

Iraq’s exports from the south were set on a record pace in August.

Oil prices have stabilized over the last two years largely thanks to a deal between OPEC and non-OPEC oil producers.

The October OSPs will also mark the first change in Saudi’s crude price benchmarks since the mid-1980s.

The biggest increase in supplies this month has come from Libya. whose output remains volatile due to unrest.

The Europe is reliant on oil imports for 98 percent of demand.

OPEC oil output rose last month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record.

Iran is also awaiting European guarantees on the sale of Iranian oil and banking relations.

U.S. crude oil production in 2018 is expected to rise 1.31 million barrels per day.

The biggest increase in supplies this month has come from Libya. whose output remains volatile due to unrest.