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

Iran produced 3.77 million b d of crude in April.

OPEC'.s combined water-borne shipments of nearly 24 million barrels a day in March were up slightly from October levels.

MENA markets remained sluggish in April due to drop in trading liquidity and poor investments from both domestic and international investors.

Iraq'.s bulging fuel oil exports have contributed to a glut.

The price of OPEC’s basket of 13 crudes stood at $48.34 a barrel on May 3.

Iraqi forces recaptured it in 2015 but it sustained heavy damage in the fighting.

Exploration and production firms are still adding drilling rigs at an average of almost 10 per week.

The Persian Gulf nation of Kuwait is the fifth-largest producer in the Organization of Petroleum Exporting Countries.

Bandar Abbas Refinery’s mazut production will be reduced to less than 10% of the total while sulfur output will fall to less than 1%.

The oil show is the biggest energy exhibition in the Middle East in terms of the number of participants and size.