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

According to IEA. Saudi Arabia will use its spare capacity which is predicted by as much as 2 million barrels per day.

Oman posted double-digit fiscal and current account deficits over the past few years.

U.S. crude oil is not on the list of 545 products the Chinese government has said it would immediately retaliate with in response to American duties.

Washington has warned other countries to end business in Iran and stop buying its oil from early November or face punitive measures.

OPEC and Russia and other producers last month agreed to add 1 million barrels to the market.

Trump’s order to OPEC members to increase production destabilizes the market.

Iranian officials have said that key for them is to ensure measures that guarantee oil exports do not halt.

The oil and gas rig count now stands at 1.052—up 100 from this time last year.

Russian government officials have become increasingly vocal about rising pump prices in recent weeks.

Government working to negotiate with Trump administration to maintain relations with Iran.