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

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.

Currently. oil product exports are taxed on the basis of a percentage of the crude oil export duty. which is tied to the price of oil.

Iraq has no option to export Kirkuk crude from the north of the country due to a political dispute with KRG.

Russia exports up to 500.000 b d of oil. products to the U.S.

Russia produced 11.22 million b d in July. basically erasing its 300.000 b d pledged cut.

Iraq'.s refining capacity now stood at around 670.000 barrels per day.