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

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.

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.

India has been urging the OPEC to end Asian Premium with Prime Minister Narendra Modi.

Kuwait is planning a new heavy crude grade later this year. with a gravity of 16 API and 4.9% sulfur content.

Iran criticized the Trump administration’s unofficial request to ramp up oil production to offset the shortfall of Iranian crude exports.

The delivery method entails specialized equipment and training and higher costs for ship owners and customers.

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.