Sentences with phrase «oil output quotas»
In late June, OPEC members decided to increase their crude oil output quotas further from 1 July.
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Political demonstrations in Venezuela, a major oil producer, have led to fears of possible supply disruptions, while OPEC reduced official output quotas by 1 million barrels per day from the beginning of April.
Iraq, which produced 4.47 million bpd in January, well above its quota of 4.35 million bpd, is capable of raising its output to 5 million bpd in the second half of this year, said Iraq's Minister of Oil, Jabbar Ali Al - Luiebi.
Kuwait is sticking with plans to add half a million barrels a day of oil - production capacity as it prepares for the eventual expiration of the output quotas OPEC adopted to Continue Reading
For all their official production measurements, OPEC uses an average of estimates from six «secondary sources», namely the International Energy Agency (IEA), the oil - pricing agencies Platts and Argus, the U.S. Energy Information Administration (EIA), the oil consultancy Cambridge Energy Research Associates (CERA) and the industry newsletter Petroleum Intelligence Weekly, as an impartial adjudicator as to whether their output quotas and production cuts are being met, to resolve any potential disputes that could arise if each member reported their own figures.