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

Rising U.S. crude production remains an issue for OPEC as it strives to clear a global overhang.

The cartel and its allies. which together control more than half the world’s oil output.

The schema of the energy policy in Obama administration was a global scale plan for dealing with challenges of the energy scarcity.

Saudi Arabia’s exports were 6.68 mb d. the second-lowest for this year.

The Asian nation’s imports of Russian crude jumped 61% to a record 6.35 million metric tons in September from a year earlier.

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.