Khalid al-Falih, Saudi oil minister, speaking of the next OPEC + meeting scheduled for next April, said that the United States and China will formulate a healthy global demand for oil later in the year but that it is still too early to change OPEC policy. According to the forecasts expressed by the minister, global demand [...]
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The latest news, which for some time had already been expected regarding Qatar's exit from OPEC, is an evident sign of a crisis in the oil exporting countries and in the Middle Eastern energy axis. The President FederPetroli Italia - Michele Marsiglia spoke "Surely in 2018 we lived in a climate of uncertainty that saw the Organization of Countries [...]
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From January 2019, Qatar will leave OPEC, the organization of the fifteen major oil producing countries, founded in 1961. In about 60 years of existence, the most famous and influential organization in the world has survived many destabilizing wars over the years in Middle East, creating a unique "cartel" for the global oil trade. In […]
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Saudi Arabia plans to cut oil production until 2018. The agreement is with the Organization of Petroleum Exporting Countries (OPEC) and some non-member states. Saudi Energy Minister Khalid al Falih said this today in St. Petersburg. Also in the Saudi Ministry of Energy he also said that after 2017, a gradual withdrawal will be worked on [...]
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Oil, Russia: Libya and Nigeria participation in the decision to invite Libya and Nigeria to a meeting of the OPEC-Non-OPEC Technical Committee (JTC) to monitor the implementation of the oil output cut agreement will be taken within two weeks . This was announced by the Russian energy minister Alexander Novak. "We have already spoken with the OPEC Secretary General, [...]
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