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

A possible six-month extension proposal from Russia is shorter than the market is largely expecting.

The Saudi OPEC governor and Saudi national representative at OPEC are in communication with many countries to invite them to the meeting.

Reports emerged last week that Russia is considering a delay on the decision to extend the cut.

The UAE has not ceased oil investments since the onset of the price fall.

Fighting over Kirkuk and other regional tensions contributed to the increase in prices.

Azerbaijan intends to consider the invitation and coordinate its participation in the meeting.

Baker Hughes reported on Friday that the number of U.S. rigs drilling for oil was unchanged at 738. having risen by nine the previous week.

Holding first meeting of Joint Energy Meeting is a major step for working out cooperation framework.

The majority of members support the extension of the plan. but the final decision should be taken at the next OPEC meeting.

OPEC and allied oil producers should extend their production cuts beyond March to help rebalance the market.