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

The Organization of the Petroleum Exporting Countries meets next on Nov. 30 in Vienna.

The parties will begin work on the project next year. after they will have signed all the legal paperwork later this year. according Novak.

In fact. the threat to OPEC from U.S. shale oil just got more serious as it became clear that the cartel and its partners are planning to extend their own agreement until the end of 2018.

In the last three years. more than 440.000 jobs were wiped out in the industry.

Saudi Arabia and Russia are considering extending the agreement to potentially cover all of next year.

Bahrain will not attend the upcoming GCC summit if Qatar takes part.

Confidence in the oil market is evident in the way financial traders have positioned themselves.

Over the last couple of years. Big Oil has demonstrated more than once that it’s set on becoming more flexible. leaner. and more efficient.

Global oil supply rose 90.000 b d in September to 97.5 mb d as non-OPEC output edged higher with output standing at 620.000 b d higher than last year.

While China pushes for the petro-yuan. Russia is also making moves which could have serious implications for the U.S. dollar.