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

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.

Rosneft also plans to close the deal to buy a stake in India'.s refiner Essar Oil in the coming days.

Asia is a key market for every exporter of crude oil.

Iran was OPEC’s second-biggest supplier at the time of Zanganeh’s dismissal.

The oil produced in Kirkuk is exported to global oil markets via Turkey'.s Ceyhan port.

The meetings are being co-chaired by Kuwait and Russia. in the presence of representatives from Saudi Arabia. which is serving as president of OPEC for 2017.

Shares of major shale producers. including Pioneer Natural Resources Co. and EOG Resources Inc.. tumbled this week as investors began to lose confidence in the prolific Permian basin.

It may be a challenge for Libya to maintain its current rate of exports.

OPEC’s biggest exporter and de facto leader. Saudi Arabia. has pledged to cut its total August exports to 6.6 million bpd.

In the Middle East. the United Arab Emirates will take 111.000 bpd. up 3 percent from July.