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

The US shale oil output will make up more than half of the 1.5 mb d in non-OPEC supply growth forecast for the next year.

The reason for the discussion is an increase in the levels of U.S production which OPEC members had not predicted.

Saudi Arabia'.s crude exports in April fell to 7.006 million bpd. official data showed on Monday.

There are no plans for Russia to have an extraordinary meeting with the Organization of the Petroleum Exporting Countries and U.S. shale producers.

OPEC members Libya and Nigeria were exempted from the supply cuts because unrest had curbed their output.

OPEC holds its next regular meeting in Vienna on Nov. 30.

Gulf states accounted for 11.8 per cent of natural gas production in the world.

South Korea imported 4.23 million tonnes of crude oil. or 999.680 bpd. from the world'.s top crude exporter in May.

Qatar pumps just over 600.000 barrels a day of crude and exports some 500.000 barrels a day. almost exclusively to Asia.

Saudi Arabia is reducing its oil exports to Asia by around 7 million barrels this month.