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

US crude is on track for a drop of more than 7% this week. its biggest weekly fall for five months.

There are concerns that the glut could persist because shale supply.

According to the IEA. Iraq will increase its output to 5.4 million barrels per day by 2022.

Many of the questions revolved around the fact that there is so much inventory remaining.

The NIOC has published a list of foreign companies declared as eligible for bidding in tenders.

US crude stocks rose by 11.6 million barrels last week.

Russia'.s production would need to fall by a further 100.000 bpd in March in order to comply with the agreement.

Iran’s light crude oil price rose by $1.24 in the mentioned period registering a record rise among other producing countries.

The refinery is currently supplying 25 per cent of the country’s gasoline demand.

OPEC officials have repeatedly said the group does not target a specific oil price.