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

.The US imported about 3 million barrels a day from OPEC last year

.Current oil byproducts exports capacity namely diesel and liquefied natural gas stands at 500.000 barrels per day

Iran was exempted from an OPEC deal in January to reduce output by 1.2 million barrels per day (bpd)

.The January drop in OPEC output has been offset slightly by higher supply from Libya and Nigeria

.Brent crude oil was up 10 cents a barrel at $55.33. US light crude was down 10 cents a barrel at $52.53. Reuters reported

.In the current situation. manufacturers were contented with prices standing at 55 to 60 dollars per barrel

Saudi Arabia’s output cuts are just the beginning of a trend that is expected to last for months and years to come.

An implementation rate of 75% would be higher than the level OPEC typically achieved in the past.

Iranian crude exports are now on the rise.

Russian oil producers achieved a major milestone in 2016.