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

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.

Iran also plans to introduce its new heavy crude grade from the West Karoun oil field as soon as six months from now.

Iran was also treated preferentially in the original negotiations.

OPEC members Libya and Nigeria have been exempted from supply curbs as their oil industries recover from years of unrest.

The world economy is ``almost as good as it gets.`` with one of the best performances since the global financial crisis of 2008-09.

Iran Heavy. one of the country'.s main export grades. settled at $51.60 a barrel. up 91 cents from the previous week.