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

Saudi Arabia is pushing to extend the cuts by a further nine months until next March.

Iraqi prime minister also agreed on the need to extend OPEC cuts for a nine-month period.

Russia will see lower inflation and a smaller budget deficit if OPEC and non-OPEC oil producers agree to extend a production cut deal.

OPEC has been urging other producers to join the supply pact.

US crude imports rose 577.000 bpd last week. while exports rose 400.000 bpd.

Saudi Arabia still loses sleep over the price of oil. Not for much longer.

Over the next two months. the UAE will cut another 278000 bpd. demonstrating its compliance with its quota under the agreement.

Saudi Arabia and Russia. the world'.s top two oil producers. agreed on Monday on the need to extend output cuts for nine months until March 2018.

Goldman kept its average Brent price forecast for the third quarter of 2017 at $57 per barrel.

Iraq is with the continuation of a reduction of oil production of OPEC nations and we will push in that direction.