OPEC crude output rose by 230.000 b d in July to a 2017 high of 32.84 million b d. led by a strong recovery in Libya. according to IEA estimates.
Read More »IEA Expects Non-OPEC Output to Expand
The US output is forecast to rise by 0.6 million b d and 1 million b d in 2017 and 2018. respectively. according to the report.
Read More »Saudi Arabia. Iraq Discuss Economic Opportunities in Jeddah Meeting
Al-Falih told Arab News that they discussed Iraq’s huge mineral reserves. which have yet to be explored or invested in.
Read More »Senators Urge Trump to Avoid Blockade of Venezuela Oil Shipments
A drilling boom in the United States has allowed the government to store more oil than it needs to meet international spare supply agreements.
Read More »OPEC Predicts Higher Demand for Oil in 2018
Saudi Arabia told OPEC it cut output to 10.01 million bpd last month. from 10.07 million bpd in June. meaning its production fell back below its OPEC target of 10.058 million bpd.
Read More »Iraq’s Economic Activity Reduced in 2017 Due to Decline in Oil Production
The IMF noted that the medium-term growth prospects for Iraq are positive.
Read More »EIA slightly lowers forecasts for OPEC oil supply
OPEC crude oil production is expected to average 32.53 million barrels per day in 2017 and 32.96 million barrels per day in 2018.
Read More »OPEC Accord Increases Iran`s Petrochemical Export Value
OVer past four years. crude oil price had declining trend or from around $100 per barrel in year 1391 reached to less than 40 dollars in the year 1394. which affect world petrochemicals market as well.
Read More »Rosneft Lent Venezuela`s State Oil Firm a Total of $6 Billion
Rosneft also plans to close the deal to buy a stake in India'.s refiner Essar Oil in the coming days.
Read More »Saudi Arabia Set to Slash Exports to Asia in September
Asia is a key market for every exporter of crude oil.
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