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

Iraq is OPEC'.s second-largest producer. after Saudi Arabia.

Iraqi Oil Minister plans to create an oil tanker fleet in order to help the country access global markets.

The inventory trend in the US raises doubts about whether the OPEC production cuts have actually resulted already in a tighter supply situation.

In January. Iran was the third biggest oil supplier to India after Saudi Arabia and Iraq.

Iran'.s crude oil production rose by 50.200 barrels per day in January over the previous month. reaching 3.75 million bpd.

Iran wants not only to upgrade its dilapidated refineries but also build new ones.

Brent crude was 45 cents higher at $56.04 a barrel by 0950 GMT. U.S. light crude oil was up 35 cents at $53.28.

Given the growing demand for Iranian heavy crude. its price per barrel increased by 77 cents to be traded at 52.70 cents.

The project is aimed at improving the refinery'.s processing capacity and efficiency.

Iran’s crude oil and condensate exports rose three percent month-on-month in January.