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

Venezuela’s production collapsed due to a lack of investment and Iranian exports have suffered due to US sanctions.

Rosneft reported a sevenfold increase in its net profit for the first quarter of this year on the back of higher oil prices.

In July. Russia planned to boost production by 200.000 barrels per day.

Saudi Arabia and large producers are ramping up output to offset losses that are likely to come as the November deadline approaches.

As Saudi Arabia raised its production. the number of rigs drilling for oil in the US fell by 80%.

The two sides exchanged views on Tehran-Moscow energy cooperation roadmap.

According to OPEC+ deal Kazakhstan must lower oil production by 20 000 barrels per day to the level of November 2016.

Iraq continued to be the top oil supplier to India in the April-June period.

Lukoil. Russia'.s second-biggest oil producer. has increased output by 29.000 bpd.

OPEC agreed with Russia and other oil-producing allies last month to raise output from July.