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

Iran is on the top rank of gas reserves and the fourth rank of oil reserves in the world.

Oil shipments from Iran reached a daily average of 2.6 million barrels in fiscal 2016-17.

Imports into China from non-OPEC countries has risen from just 34 percent to 43 percent over the last five year.

Saudi Aramco plans to supply full volumes of crude to least six buyers in Asia in May.

EIA’s forecast for 2018. in contrast. increased compared to the previous outlook. when it was at 40.2 million barrels per day.

The price of OPEC basket of 13 crudes stood at $53.13 a barrel on Apr. 10 compared to $52.91 on Apr. 7.

A final decision will depend on how the situation in the oil market develops in April and on forecasts for May and June.

Russia will continue participating in the OPEC deal on oil production limiting despite dissatisfaction with the current prices level.

Revenues from oil sales are national wealth and belong to future generations.

Iran'.s crude oil edged closer to $50 a barrel at the end of last month.