Tag Archives: Persian Gulf Countries

The price of OPEC’s basket of 13 crudes stood at $51.50 per barrel on May 22.

Kuwait is part of a joint OPEC/non-OPEC ministerial monitoring committee.

Saudi Arabia is pushing to extend the cuts by a further nine months until next March.

Iraqi prime minister also agreed on the need to extend OPEC cuts for a nine-month period.

Iran backs regional resistance groups. such as Lebanon'.s Hezbollah. which are considered terrorists by the US.

Some 50.000 barrels will be added to Doroud and Soroush fields'. daily output by the end of the present fiscal.

Dewa had implemented this concept for the first time in the Middle East in January 2015.

Around 83.000 barrels of Yadavaran production is a blend of light crude and the rest is heavy crude.

Iran has been second-best to Qatar in gas production from South Pars.

The Persian Gulf region has about 730 billion barrels of proven oil reserves and more than 70 trillion square meters of natural gas.