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

By expanding infrastructure both upstream and downstream. Kuwait is positioning itself to capitalise on rising global energy demand.

Rosneft has plans to jointly develop the Val Shatskogo (Shatsky Ridge) oilfield with Italy’s Eni.

The two most critical forecasts of global oil markets offer contrasting visions for 2018: OPEC and IEA.

Oil markets have increased on the back of a fourth consecutive weekly fall in US crude inventories.

The global agreement to limit production is making progress in re-balancing supply and demand for oil.

Russia. the largest producer outside the group. is keen to exit as soon as possible.

OPEC and its allies started withholding supplies last January and currently plan to continue doing so throughout 2018.

Libya agreed its oil production would not exceed 1 mln bpd. and Libya said it would bring its output in line with the target next year.

Russia has three oil export terminals on its Arctic coast.

Under the current deal the producers are cutting supply by about 1.8 million barrels per day (bpd).