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Tag: OPEC

OPEC sees balanced oil market by late 2018 as cuts erode glut

OPEC expects the world oil market to be balanced by late 2018 as its deal with other producers to cut output further reduces excess oil…

OPEC Exceeds Its Obligations to Reduce Oil Production

The volume of OPEC oil production in November decreased by 0.3 million barrels per day, to 32.48 million barrels per day. This follows from the…

OPEC, Russia Agree Oil Cut Extension To End Of 2018

OPEC agrees to extend oil production cuts until the end of 2018, Rigzone reports. OPEC and non-OPEC producers led by Russia agreed on Thursday to…

OPEC + Countries Fulfilled Agreement by 120% in September

OPEC and non-OPEC countries participating in the agreement on oil production limitation reached a record 120% in September, the cartel’s press release said, following the…

Export Earnings of OPEC Fell by 13.2% in 2016

Revenues from oil exports by OPEC countries in the past year fell by 13.2% compared to 2015, amounting to $ 445.7 billion, the organization’s document…

OPEC to No Longer Reduce Extraction of Raw Materials

All quotas of the OPEC countries and non-cartel countries remain at the same level, Azerbaijani Energy Minister Natig Aliyev told journalists in Vienna 25 May….

OPEC and non-OPEC to Reduce Oil Production Again

The OPEC and non-OPEC countries fulfilled the agreement on the reduction of oil production by 98% in March, the cartel press release said. OPEC notes…

Forecast: Oil to Reach $ 60, and Then to Go Down

Experts of the Austrian consulting company JBC Energy note that the expectations of the extension of the production reduction agreement will support oil ahead of…

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