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

Unless a miracle happens and fundamentals change miraculously. an extension is a must and not just an ``option.``

Sechin’s oil price forecast is basically in line with Russia’s economic estimates from earlier this year.

The price drop mirrors the trend in global prices that have been shaky in recent weeks.

Trio plus Kazakh agree to keep all options open including the possible extension of output cuts beyond next March.

The cooperation of non-OPEC countries. in particular Russia. is good in the deal to reduce oil supply.

The cut deal is very likely to be extended through to mid-2018 and even maybe end-2018.

The project has faced repeated delays since it was conceived in the 1990s to connect Iran'.s South Pars gas field to Pakistan.

Under the agreement OPEC is curbing its collective oil production by about 1.2 million bpd.

Russian oil output fell to a year-low of 10.91 million bpd in August from 10.95 million bpd in July.

Libyan output had also recovered to reach an average of 990.000 b d in July. its highest level in three years. up 180.000 b d in June. according to the latest S&.P Global Platts OPEC survey.