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Crude oil production from Saudi Arabia between February and April 2009 is forecasted to be less than its target of 8 mbd (million barrels per day) set by the OPEC. The kingdom produced 7.95 mbd of crude oil in February. In the entire 2008, crude production stood at 9.3 mbd. In 2009 it is forecast [...]
In September 2008, OPEC agreed to cut crude oil production by 4.2 mbd, about 5% of world’s demand to support oil prices after prices plunged by more than $100 a barrel as recession eroded fuel use. The OPEC members managed to collectively lower production by 3.42 mbd from September to February 2009, thus complying with [...]
According to OPEC march 2009 bulletin, Non OPEC countries oil supply have fallen by 0.2mb/d in 2008, while for 2009 it is expected to increase by 0.4mb/d as compared to 2008. Crude oil production of OPEC countries declined by 0.7mb/d in February 2009. OPEC NGLs and non conventional oils are expected to average 4.8mb/d in [...]
According to British Petroleum, the daily oil production in Iraq was 2,145 thousand barrels in 2007; exhibiting a CAGR of 6.3% from 1997 levels of 1,166 thousand barrels. Iraq accounted for 2.7% of the global daily oil production in 2007.
According to British Petroleum, the daily oil production in Iran was 4,401 thousand barrels in 2007; exhibiting a CAGR of 1.5% from 1997 levels of 3,776 thousand barrels. However, the total daily consumption stood at 1,621 thousand barrels in 2007 representing a CAGR of 2.7% over the 1997 levels of 1,239 thousand barrels. Iran accounted [...]
According to British Petroleum, the daily oil production in Denmark was 312 thousand barrels in 2007, exhibiting a CAGR of 3.1% from 1997 levels of 230 thousand barrels. Denmark accounted for 0.4% of the global daily oil production in 2007.
London, Monday, March 17, 2008 ARANCA News Report (www.aranca.com) :Oil prices hit new highs in Asian trading this morning, surging to over $111 dollars for the first time ever. Prices for New York’s main contract hit $111.42, before falling to $111.06 per barrel by the afternoon. Meanwhile, Brent North Sea Crude for May delivery was [...]
