Tag Archives: Production

At the Vienna meeting. OPEC+ agreed to reduce its output target by 500.000 barrels a day in the first quarter.

The pipeline plan is the biggest energy ‘reform’ in China since 1998.

Asia'.s fourth biggest oil consumer imported 112.55 million barrels from the North American producer over January-October.

Saudi Arabia will continue a voluntary reduction of 400.000 barrels a day below its official target.

The key uncertainty facing the oil market now is OPEC+ supply from April.

Russia will implement the project on the modernization of Iran’s nuclear facility at Fordow.

Tehran will never back down on its right to produce and export oil after the unilateral sanctions are lifted.

The 14-member Organization of the Petroleum Exporting Countries (OPEC) agreed to deepen its output cuts in Vienna at the 177th OPEC meeting by 503.000 bd as of January 1. 2020 from 1.2 mbd to 1.703 mbd.

Following a short stay in the 7th OPEC+ meeting. Zangeneh told reporters that the negotiations were good and favorable results were obtained.

There are plans to involve the companies Beicip Franlab and IFP Training in the development of hard-to-recover oil reserves in Yugra.