The organization recommended Wednesday (4) that the cartel members keep its current output reduction strategy to prop up prices.
Browsing: oil production
In a discussion on the topic, Sultan Al Jaber called on energy companies to reduce emissions and increase the use of renewable sources, telling they play an essential role in the climate solution.
The secretary-general of the Organization of Arab Petroleum Exporting Countries, Jamal Al-Loughani, spoke in China about the region’s expectation of boosting oil supplies to the world.
Brazil produced three million barrels of oil a day last year, most coming from pre-salt reserves. The majority of the country’s natural gas also came from pre-salt.
A report by OPEC points out a decline in the Brazilian oil output in March, but there’s a prospect for growth.
This Sunday (2), influential oil-producing countries such as Saudi Arabia, Russia, and Iraq announced they would reduce oil production as of May. This measure was taken due to the recent drop in prices and the prospect of increased Chinese demand.
