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

Saudi Arabia pumped 10.488 million bpd of crude oil in June. an increase of 458.000 bpd from the production figure it submitted for May.

Saudi Arabia’s stated spare capacity is actually lower than its actual spare capacity.

At 408.7 million barrels. the EIA said. crude oil inventories were below the five-year seasonal average.

Iraq exported 3.521 million bpd of crude oil in June.

Kuwait has long planned to increase its global capacity to produce oil and gas.

Iran is now offering to insure oil cargoes to India after some insurers stopped providing the service in the face of the impending sanctions.

OPEC hiked production by 70.000 barrels per day (bpd) to 32.64 million bpd. the most this year.

OPEC’s crude oil production rose by 70.000 bpd from June to stand at 32.64 million bpd in July.

Despite soft trading last week. technical analysis points to plenty of upside before the end of 2018.

If India does not import crude from the US. the most likely fallout will be to buy from other OPEC countries.