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

The country is aiming to raise oil output to around 4 million bpd by the end of the year and 4.5 million bpd within five years from around 3.8 million bpd in recent months.

Indian companies. both public and private. have invested about $5 billion in US shale assets.

The OPEC leader has lost ground to rivals selling in some of its key Asian export markets. most particularly China and India.

In the meantime. the Saudis have lost some of their market share. both to Russia and Iraq.

Last year Exxon said they may invest over $10 billion in Vaca Muerta shale projects over the next few decades.

Venezuela is in disarray and in no condition to expand its oil production.

Libya and Nigeria have collectively added about 550.000 bpd since the original deal was agreed to last year.

Kuwait also plans to start selling a new grade of crude called Kuwait Super Light from January.

CEO Amin Nasser also says the outlook for oil supplies is '.increasingly worrying'..

Van Beurden said forecasting oil prices in the short term was ".very difficult.". but he still expected gains.