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

Saudi Aramco. the kingdom'.s state-owned oil behemoth. took 100% control of the sprawling Port Arthur refinery in Texas.

Most of the survey respondents expect Arab Light crude to be cut by 40 cents in June.

OPEC countries agree on extension of the deal. but Iraq and Iran will not be part of it.

The Organization of the Petroleum Exporting Countries (OPEC)meets this month to discuss oil supply policy.

Present volume of Iran’s crude output stands at 3.8 million barrels according to secondary sources.

Tehran agreed to curb its nuclear programme in exchange for lifting of most international sanctions imposed on the country.

Iran needs foreign investment for repairs and upgrading of its oil and gas fields.

Russian oil production declined by 254.000 bpd from April 1-26 compared with the reference level of October.

A number of major Middle East crude producers countries reached an initial agreement last week to extend output cuts beyond their June expiry.

Extension of the OPEC deal in May is quite likely. because OPEC and non-OPEC partners will be under pressure to extend it.