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

Each of the U.S. producers acting individually can only impact a fraction of a percentage of the world oil market.

In December 2016 in Vienna. 11 non-OPEC countries. including Azerbaijan. agreed to curtail oil output jointly by 558.000 barrels per day.

Khalid Al Falih welcomes increasing cooperation between Iraq and kingdom.

With OPEC-led supply cuts supporting prices. but rising U.S. production capping crude. many analysts see markets balanced in 2018 and 2019. with Brent in a $50-$60 range.

The agreement comes amid tensions over Kurdish claims to sovereignty with reports of armed clashes between Kurdish forces and Iraqi government troops.

In Europe. American infringement of Russian dominance in gas markets is even clearer.

OPEC would be willing to do ``whatever it takes`` to balance the oil market.

U.S. sanctions could cut off a lot of Iranian oil trade finance.

Global oil stocks are likely to have fallen in Q3 for just the second time since oil prices started collapsing in 2014.

The current reduction deal is sufficient to achieve the desired purpose.