The total proven crude oil reserves in member countries decreased by 0.3 per cent to 1.214 billion at the end of 2017.
Read More »Saudis Start to Rise Oil Output. Ahead of OPEC Meeting
Saudi Arabia and some other Persian Gulf producers recently favored the idea of increasing overall output by 300.000 to 400.000 barrels a day.
Read More »OPEC Charges Extra price. India Loses Billions of Dollars
India has been urging the OPEC to end Asian Premium with Prime Minister Narendra Modi.
Read More »Kuwait will Ship its First Light Crude Grade by End-June
Kuwait is planning a new heavy crude grade later this year. with a gravity of 16 API and 4.9% sulfur content.
Read More »Iran Condemn US Output Rise Request
Iran criticized the Trump administration’s unofficial request to ramp up oil production to offset the shortfall of Iranian crude exports.
Read More »PDVSA Transfers Oil at Sea Despite Customer Doubt
The delivery method entails specialized equipment and training and higher costs for ship owners and customers.
Read More »Russia Says Demand should Determine Oil Deal Easing
OPEC and non-OPEC countries should take a decision on a possible adjustment of the current deal on oil output cuts by looking into oil demand.
Read More »Iraqi Lawmakers Want Out Of OPEC Deal
Some new members-elect of Iraq’s parliament think that Iraq should be able to export as much crude oil as it wants.
Read More »PDVSA Considers Force Majeure on Oil Exports
Oil is the financial lifeline for the embattled socialist government of President Nicolas Maduro.
Read More »US Asked OPEC to Raise Oil Output Due to High Gasoline Prices
The U.S. request was discussed at the meeting of the relevant ministers of Saudi Arabia. the United Arab Emirates. Kuwait and Oman in Kuwait this Saturday.
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