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

The US imported 3.793 million barrels of oil per day from OPEC countries in January.

Iran’s average oil output increased by 232.000 b d and 1 b d compared to 2016 and 2015 respectively.

Prices edged higher by 0.35% to $48.88 in early trading on Friday.

Texas shale producers forced OPEC this morning to extend its oil production cuts for nine months.

Libya. along with Nigeria and Iran. was exempted from the original agreement.

Equatorial Guinea has been accepted as a new member of the Organization of the Petroleum Exporting Countries (OPEC).

Sinopec will pay almost $1 billion for a 75 percent stake in Chevron Corp'.s South African assets and its subsidiary in Botswana .

The today OPEC meeting is to focus on the extension of the November 2016 agreement on cutting oil supply.

OPEC members would decide during the meeting on May 25 to extend the 1.2 mb/d oil cut for six or nine months.

Several countries. notably Russia and Saudi Arabia. saw the Algerian proposal as a good suggestion and found it interesting.