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

Saudi Arabia has moved back up a notch in the race to supply oil to China and compete for market share in Asia’s biggest crude consumer.

The country'.s main export grade. marketed as Iran Heavy. gained 42 cents to reach $49.35 per barrel. matching its 2017 average.

OPEC will discuss at a meeting in November whether to extend or end production cuts.

Over the past few years. Iran had been pursuing exporting natural gas to Kuwait. Oman and Iraq.

The price for September futures of West Texas Intermediate (WTI) grew by 0.84 percent and stood at $47.77 per barrel.

Iraq has been reforming its oil sector to achieve higher prices and setting up trading and shipping joint ventures.

Zanganeh is specifically credited at home for what many see as his success in increasing Iran’s oil and gas production capacity.

The market data from JODI shows that Russia remains the world’s largest oil producer.

The bulk of Iraq'.s oil is exported via the southern terminals. Smaller amounts are shipped from northern Iraq via Ceyhan in Turkey.

Iran produces around 880 million cubic meters of gas a day. two-thirds of which come from South Pars.