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

OPEC hopes the market rebalancing will accelerate in the second half of this year.

Italy purchased 2.8 million tons in the four-month period. accounting for nearly 30% of all imports.

The U.S. buys about a third of Venezuela’s crude production and is the main buyer that pays in cash.

Iraq. the second-biggest producer in OPEC. will also attend the meeting. the people said.

The general observation is that Russia has huge and promising projects to offer. and American companies have immense expertise and effective technologies.

On July 26 oil prices continue rising.

Between January and June 2017. the participating producing countries adjusted their production downwards by an estimated volume of 351 million barrels.

Under a deal agreed last year. oil exporters committed to cut production in an effort to reduce global stockpiles that have depressed prices for more than two years.

In three out of five regions of the US the level of commercial stocks has reached the average 5 year'.s level.

Kingdom to limit crude oil exports at 6.6 million barrels per day in August. almost 1 million bpd below levels a year ago.