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

The average production of oil during the first 6 months of the year should stand at the established quota.

Riyadh will keep the oil output level at under 10 million barrels per day by the end of winter.

Three factors could pose major threats to the anticipated upsurge in global oil prices in 2017.

The OPEC 171st session aiming at reviewing the oil freeze plan was held in Vienna on November 30.

Kuwait chairs the five-member committee which also includes Algeria. Venezuela. Russia and Oman.

Trump’s goal may not be completely unobtainable as US oil production has been on the rise and signs point toward possible energy independence.

Higher crude oil and gasoline stocks in the United States weighed on prices on Friday.

In November 2016. OPEC agreed to cut oil production by 1.2 million barrels per day to 32.5 million bpd.

The two largest economies need to sort out their differences for the wellbeing of the global community.

OPEC oil output also decreased by 220.900 b/d to 33.085 in December month-to-month.