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

Iraq on Monday joined Iran and Venezuela in opposing any plans to start boosting crude output.

OPEC and its partners are due to meet at its headquarters in Vienna. Austria. to discuss policy.

Iran'.s share of OPEC production increased slightly last month.

Russia'.s largest crude producer Rosneft was also in a position to be able to add 100.000 b d to production in a few days.

Russian output hit 11.1 million bpd in early June.

Russia is the largest non-OPEC contributor to the production cut agreement. now in its second year.

According to the report. world natural gas reserves rose 0.2% to 199.044.000.000.000 cubic meters.

Surging oil demand. particularly in the case of China. is likely to surprise the market to the upside.

More than 75 percent of the equipment for developing the output is Iranian.

The total proven crude oil reserves in member countries decreased by 0.3 per cent to 1.214 billion at the end of 2017.