Sentences with phrase «around oil output»
The market was also supported by concerns around oil output from Venezuela.
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Oil output in Venezuela, a member of the Organization of the Petroleum Exporting Countries, has fallen from almost 2.5 million barrels per day to just around 1.5 million bpd currently due to political and...
Oil output in Venezuela , a member of the Organization of the Petroleum Exporting Countries (OPEC), has fallen from almost 2.5 million barrels per day (bpd) to just around 1.5 million bpd currently due to political and economic turmoil in the South American country.
Lost oil output amounts to around 1 million barrels per day, but since it is unclear when production will be fully restored, the cumulative loss of income remains uncertain.
A year and a half on from OPEC's original deal to limit output, the surplus oil stashed in storage tanks around the world are nearly back to average levels.
Second, German North Sea hydrocarbons output has always been minuscule in comparison to UK output: the former peaked in 2003 at around 40 thousand barrels of oil equivalent per day (KBOED) and is currently running at around 26 KBOED, whereas the latter peaked in 1999 at 4.6 million barrels of oil equivalent per day (MMBOED), and is currently running at around 1.4 MMBOED (i.e. thirty five times more than Schleswig - Holstein production at its peak).