Organization of Petroleum Exporting Countries

Tag: Organization of Petroleum Exporting Countries

OPEC fails to agree in limiting oil production

June 4, 2016

QUEZON City, Philippines – The Organization of Petroleum Exporting Countries failed once again to agree on its aim to limit oil production among its member after Iran made a statement that it will increase its oil production to supply the world market. On the other hand, Saudi Arabia – the world’s largest oil supplier – promised that it will not increase its current oil output. (Eagle News Service Described by Jay Paul Carlos, Video Editing […]

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OPEC holds meeting to stabilize oil prices

March 17, 2016

DOHA, Qatar – The members of the Organization of Petroleum Exporting Countries will conduct a meeting with other major oil producers in order to stabilize the price of oil in the world market. This is in the wake of a previous meeting between Qatar, Russia, Saudi Arabia and Venezuela that proposed a freeze-oil output within January levels. Said meeting is supported by major oil producing countries. (Eagle News Service Described by Jay Paul Carlos, Video […]

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OPEC may implement production freeze in March

February 24, 2016

VENEZUELA, South America – The Organization of Petroleum Exporting Countries or OPEC will conduct a meeting to discuss the possibility of an oil production freeze in mid-March to address the continued lowering of oil prices in the world market. Said oil price reduction is due to over-production and the weakening economy of the primary oil consumers. (Eagle News Service Described by Jay Paul Carlos, Video Editing by Jericho Morales, Uploaded by MRFaith Bonalos) https://youtu.be/J1tlnH528ig

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