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What Does The Next OPEC Meeting Have In Store?

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The 2 June 2016 OPEC meeting will be held amid a backdrop of oil prices near $50 per barrel, a sharp drop in Nigerian production due to sabotage, turmoil in Venezuela, Saudi Arabia operating with a new oil minister, and Iran aggressively pumping close to pre-sanction levels. by Rakesh Upadhyay for Oilprice.com. million barrels per day (bpd).

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Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

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percent in 2016. Furthermore, several national oil companies, Venezuela’s among them, are building refineries with local partners in Asia, which will use their crude. They are fighting a multi-front war with Iran directly (in Yemen) and indirectly (in Syria, Lebanon, and Iraq). percent in 2014 to 3.3 Racing to Barrel Oil.