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

Projections of LNG demand reveal growth of over 3%-5% per year until 2030.

The Declaration of Corporation’ by Opec and non-Opec participating countries gave hope and stability to the market at a very critical time.

Oil crashed to its lowest levels in over a decade in February 2016 from a high of $115 a barrel three years ago.

The history of U.S and her partners in energy policy shows oil has been applying as a political weapon in many cases.

The U.S.-Asia route is at least twice as long as that from the Middle East to the main Asian trading hubs in China. Japan. South Korea. Taiwan and Singapore.

Rising U.S. production helped fuel a slump in prices.

The group is ``extremely assured. optimistic`` for oil in the short and medium term. with investments flowing back sooner than later.

Moscow agreed to contribute around 0.3 million bpd to the cuts and Russian state and private companies are sharing the burden on a pro-rata basis.

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

OPEC was discussing ‘soft targets’ of around 1.8 million bpd for Nigeria and 1 million bpd for Libya.