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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil supplies is “ increasingly worrying ”, due to a loss of $1 trillion ($1,000 billion) in investments last year. Amin Nasser’s aim is to go beyond global oil markets.

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Opinion: How Much Longer Can OPEC Hold Out?

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With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Iraq’s Issues.