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

U.S. crude inventories rose by 3.4 million barrels to 432.575 million in the week to March 27.

Indonesia announced four winners from five blocks in a direct offer tender on Wednesday.

Concerns rise that US exit from nuclear deal with Tehran will result in sanctions on Iranian oil and reduced exports.

U.S. President Donald Trump has until May 12 to decide whether to restore the sanctions on Iran that were lifted after an agreement over its disputed nuclear programme.

India will work to create a network with other major oil buyers in Asia to negotiate better terms with sellers.

The average price of Iranian light crude oil has been $65.39 a barrel. and the average of the Iranian heavy crude oil has been $63.88.

While plunging output in Venezuela captures the oil world’s attention. problems are quietly festering in another OPEC nation.

Surging U.S. production. which rose to 10.59 million bpd last week. has encouraged record-high U.S. exports.

Ministers from OPEC and non-OPEC oil-producing countries plan to meet in Vienna on June 23.

Trump will decide by May 12 whether to restore the sanctions. which would probably result in a reduction of Iranian oil exports.