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

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.

Economic pressure on Saudi Arabia is set to intensify as the state spends at home and abroad.

Iraq has undertaken the second largest cut in oil output after Saudi Arabia among the participants of the OPEC deal signed last year in Vienna.

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.