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

Most of the shortfall has come from Venezuela. where an economic crisis has savaged the nation’s petroleum production.

Falih said any raising of output would be measured.

Higher oil prices help U.S. shale producers.

An increase because of external pressure on OPEC is not acceptable.

The condition means no other country has the right to compensate for another country’s oil production decrease.

The market is now stuck in an OPEC-wary condition.

Pradhan said India will raise the issue of the recent fuel price hike at the OPEC meeting.

OPEC members and independent producers will meet in the Austrian capital. Vienna. on 22 June to discuss a future production policy.

An oil production shortfall in Iran and Venezuela has changed the scenario for the two countries and members of the oil cartel.

An average of 692.600bd of the country’s crude oil went to Europe in 2017.