Tag Archives: Production

U.S. production will be growing despite the current capacity constraints in the Permian.

Oil prices have come under downward pressure from rising supplies.

OPEC and Russia may use cuts to support $70 per barrel.

The next OPEC+ meeting is scheduled for 4 December.

Exxon still sees a bright future for the oil industry. with 2.5 billion people set to enter the middle class in the next 20 years.

OPEC member Venezuela last year produced more than 2 million bpd.

The aggressive gasification targets and an unusually cold winter last year caused a supply shortage.

Saudi Arabia is the only producer with significant spare capacity of around two million bpd.

The Kirkuk area in northern Iraq produces about 230.000 bpd for local refining.

Saudi Arabia. the world'.s largest exporter. has claimed that it can respond to the Iranian shortfall.