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

Venezuela now produces almost half of the oil it did two decades ago.

Analysts Forecast Most Constructive Oil Market in Years.

Saudi Arabia’s compliance with OPEC’s output-cut deal fell to 26 percent in June.

The United States holds a reserve of about 660 million barrels.

The Trump administration has said there are more than 50 foreign companies that have withdrawn their business from Iran.

The meeting will allow OPEC members to discuss ways to maintain oil market stability.

OPEC is a 14-country oil cartel. which includes Nigeria.

The United States led the world in oil production for much of the 20th century.

Novak said higher crude prices this year would add 2.5 trillion roubles ($40.14 billion) to state coffers this year.

The United States started the petroleum reserve in 1975 after oil supplies were interrupted during the 1973 energy crisis.