Tag Archives: Persian Gulf Countries

Oil will trade at $55 to $60 a barrel this year and Kuwait is assuming a $45 price in its budget for fiscal year 2017-18.

Iran agreed in November to cap its oil output at an average of 3.797 million barrels for the first half of 2017.

The market is waiting to see how the Opec cuts and US supply situation plays out.

The new US president has also sent messages offering to increase the level of assistance to Iraq.

The country reluctantly agreed in November to an OPEC deal to cut production in a collective effort to try and boost oil prices.

Iran is eligible and capable to absorb some $370-380 billions within the next decade.

Iran currently produces 8 million tons of LPG per year.

The pipeline will connect the South Pars/North Dome Gas field shared by Iran and Qatar with the Iraqi city of Basra.

Iran is developing the giant South Pars field in 24 phases.

Iran’s will practically end gasoline imports in the next Iranian calendar year.