Tag Archives: Production

OPEC and its partners are due to meet at its headquarters in Vienna. Austria. to discuss policy.

Iran'.s share of OPEC production increased slightly last month.

Russia'.s largest crude producer Rosneft was also in a position to be able to add 100.000 b d to production in a few days.

Russian output hit 11.1 million bpd in early June.

Besides the aforementioned oil firms. Schlumberger has also signed an agreement to survey ‎the oilfield.

Russia is the largest non-OPEC contributor to the production cut agreement. now in its second year.

Iraq'.s plan is to increase export capacity to 6.5 million bpd by 2022.

Surging oil demand. particularly in the case of China. is likely to surprise the market to the upside.

The total proven crude oil reserves in member countries decreased by 0.3 per cent to 1.214 billion at the end of 2017.

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.