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

An extension of the OPEC agreement will not be enough to raise global oil prices significantly.

Russia said it supports a suggestion from Saudi Arabia that OPEC and its allies extend their oil output cuts into next year.

Iran will continue to rank first to third among main energy players in the world.

Global crude inventories have not fallen as fast as OPEC or the hedge funds anticipated.

Saudi Energy Minister Khalid al-Falih said on Monday the OPEC-led production cut could be extended beyond 2017.

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.