I’m a problem-solver. When I read or hear about something people are struggling with, I want to help them fix it. When they’re grappling with a difficult question, I want to help them answer it. 814 more words
Tags » OPEC
Brent falls below $112/bbl after OPEC bet that demand won’t weaken enough to warrant production cuts. WTI recorded largest three-month loss in five years on piling up stocks in the US, bringing the Brent-WTI spread to now ~$14 level.
The 30 MMbpd crude output ceiling set in latest OPEC meeting was challenged by Iran, announcing plans to pump as much oil as it can if sanctions on its crude exports are lifted, even if its extra output drives prices into the basement.
via Washington Post
After the “Geneva agreement” on Iran’s nuclear program, speculations about reviving Iran’s halved crude oil export to international markets have risen.
The Middle East country’s crude oil export decreased from 2.2 million barrels per day to below one mbpd since 2011, while condensate export dropped by 34 percent to about 200 tbpd during the mentioned period. 682 more words