Tag Archives: Persian Gulf Countries

The idea to bump output has been advocated by Saudi Arabia and Russia.

The governments of Iran and Oman signed an agreement in 2013 for the construction of the 400-kilometre pipeline.

The major producers appear to have consumers’ interests in mind more than they have in the past.

OPEC and its allies have since last year been participating in a pact to cut output by 1.8 million bpd.

Qatar is the world´s biggest LNG producer.

Iran. OPEC’s third-largest producer. was against the agreement at first since the country is facing export-crippling US sanctions.

Earlier this year. Qatar agreed to increase its stake in Rosneft to almost 19 percent.

Saudi Arabia is trying to convince fellow OPEC members to pump more oil.

Without further investment. liquids supply would decline steeply leading to major price fluctuations down the line.

Real increase would be smaller than the nominal gain of 1 million bpd. meaning a compromise with Iran remained possible.