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

Iran'.s own data submitted to OPEC pointed to bigger cuts.

The Venezuelan economy has been in recession for four years. where food shortages. the lack of U.S. dollars and the depreciation of its own currency. has sent inflation soaring.

Output cuts by OPEC and other producers such as Russia and Oman have started to pay off.

U.S. oil producers have raised output C-OUT-T-EIA by more than 14 percent since mid-2016 to a record 9.62 million barrels per day.

The group sees U.S. shale fizzling out after 2025. leaving OPEC once again in charge.

For the first time. the exhibition and conference will include the downstream petroleum industry.

Dubai and Oman crude oil prices are respectively $58.77 and $58.70 per barrel. indicating an upswing of $2.51 and $2.56.

Crude benchmarks end the week higher for the fifth straight week despite Friday’s pullback.

Outside the kingdom. the impact will be felt in business. finance and oil markets.

Orbital satellite data suggests that Saudi Arabia’s crude oil inventories have risen slightly since early 2016.