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

Oil ministers from OPEC and its partners meet on June 22-23 in Vienna to review the existing agreement.

Economists and investment bankers believe a 10% increase in oil price could raise inflation by 0.2-0.3%.

China buys the largest share of Iranian oil. and most of the rest is sold to the other top Asian consumers.

The US decision sent oil futures surging Wednesday as traders digested the likely consequences.

Saudi Arabia is ready to offset any supply shortage but it will not act alone to fill the gap.

Iran is one of the world’s largest oil producing countries.

During the last round of sanctions. Iran'.s oil supplies fell by around 1 million barrels per day (bpd).

Ahead of official numbers. API data shows sizable declines in US crude inventories.

After the last round of sanctions were announced in 2011. Saudi Arabia boosted its production.

The U.S. move threatens Iran with lower export income and less access to hard currency.