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| Kuwait to raise oil output by 85,000 bpd |
| 2018-07-01 |
| [ENGLISH.ALARABIYA.NET] Kuwait will raise oil output by 85,000 barrels per day (bpd)starting on Sunday, part of an agreement between OPEC and non-OPEC producers to increase production by one million bpd, Energy Minister Bakhit al-Rashidi told a local newspaper on Saturday. "Kuwait will raise its oil production from tomorrow to 2.785 million barrels, a daily increase of 85,000 compared to May, based on last week’s production cut agreement," Rashidi told Arabic-language daily al-Rai. OPEC agreed with Russia and other oil-producing allies this month to raise output from July by about 1 million bpd. Soddy Arabia ...a kingdom taking up the bulk of the Arabian peninsula. Its primary economic activity involves exporting oil and soaking Islamic rubes on the annual hajj pilgrimage. The country supports a large number of princes in whatcha might call princely splendor. When the oil runs out the rest of the world is going to kick sand in the Soddy national face... plans to pump up to 11 million bpd in July, and Russia has said it could increase output by more than 200,000 bpd. Oil prices hit $80 a barrel this year for the first time since 2014, prompting consumers like the United States to raise concerns. The output increases come as the United States has urged some OPEC members to raise output to compensate for supply losses caused by renewed US sanctions on Iran. |
| Posted by:Fred |
| #3 ...I'm sorry, but this is fake news, as I was assured that: *We were at peak oil, *The Saudis were at maximum production, so they had nothing TO ramp up, and *Any effort on our part to drill and ease supply was utterly futile. This, therefore, is unpossible. (sarc/OFF) Mike |
| Posted by: Mike Kozlowski 2018-07-01 12:37 |
| #2 VZ shortage opportunity. |
| Posted by: AlanC 2018-07-01 10:32 |
| #1 The output increases come as the United States has urged some OPEC members to raise output to compensate for supply losses caused by renewed US sanctions on Iran. Did Trump talk to them too? Looks that way. Winning! |
| Posted by: Raj 2018-07-01 00:11 |