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

Iraq is the second-largest member of OPEC after Saudi Arabia.

That marked only the second time the weekly oil-rig count fell this year. Oil-rig numbers had climbed for 23 weeks in a row.

This contract will send a strong political message to the world especially at the time that the Americans have adopted a confrontational course (against Iran).

Last month. Libya’s average daily production was 730000 bpd as per OPEC secondary sources. up by 178.200 bpd compared to April.

According to OPEC delegates. the cartel won'.t be rushing to make that decision. even though a panel monitoring the cuts will be meeting next month.

OPEC oil basket’s price stood at $44.23 per barrel on June 27. or $1.09 more than on June 26.

Brazil becoming a relevant exporter is complicating OPEC’s efforts to control prices through supply cuts.

Japan has cut back on LNG imports two years in a row.

The slide in oil prices continues as markets remain sceptical of OPEC´s ability to balance supplies.

Over the last two weeks. Canada saw significant gains in the number of active oil and gas rigs. This week. Canada saw another large growth spurt. adding 11 rigs.