Tag Archives: Saudi Arabia

OPEC and non-OPEC countries had agreed to review current oil production as a countermeasure to the lack of Iranian oil caused by the US sanctions.

Iran argues one member has no right to steal the quota of another.

The panel is also unlikely to decide how to distribute the output increase of 1 million barrels per day decided when OPEC and allied producers last met in June.

Saudi Arabia is expected to take the issue of balancing the market at the upcoming summit of OPEC.

Novak and Falih discussed bilateral energy ties and the global energy market during a meeting in Moscow.

Venezuela. which pumped 1.22 million b d in August. could see output fall to 1 million b d in 2019.

Sixteen countries have been invited to the meeting of the ministerial monitoring committee of OPEC +.

Saudi Arabia and Russia led OPEC and allied producers in agreeing to cap output starting in January 2017 to curb a glut.

The U.S.. Russia and Saudi Arabia are also working together to make sure the world has access to affordable energy.

Iran told OPEC last month that no member country should be allowed to take over another member'.s share of oil exports.