Tag Archives: Persian Gulf Countries

Saudi Arabia and some other Persian Gulf producers recently favored the idea of increasing overall output by 300.000 to 400.000 barrels a day.

Kuwait is planning a new heavy crude grade later this year. with a gravity of 16 API and 4.9% sulfur content.

Falling production from Venezuela has contributed to a rally in global oil price Brent to nearly $80 a barrel.

OPEC officials in Kuwait just a few days ago tried to hash out a strategy ahead of the June 22 meeting.

India. one of the major importers of Qatari gas. is giving more focus on the use of natural gas.

The production-cutting pact between the OPEC. Russia and other producers has given strong tailwind to oil prices.

The agreement has helped raise oil prices to above $80 a barrel and reduce a global oil supply glut.

The Russian leader thanked the Crown Prince for the initiatives on development of Russian-UAE hi-tech cooperation.

Saudi Arabia provided 38.933 million barrels. or 40.3% of the total. Meanwhile. oil from Kuwait came to 9.1%.

The decision to keep cutting or start ramping up needs to be unanimous.