Demand for the group’s output will be at 33 million barrels a day in 2018, roughly in line with the amount it pumped before cutting production. Libya is a member of the Organization of Petroleum Exporting Countries that’s exempt from a group-wide production ceiling, though fighting has led to output cuts of around 37,000 barrels per day, or about 5 percent of total production based on January data.
Category: Chevron Corporation
IEA Predicts Tight Oil Market Without Cash Infusion
Demand for the group’s output will be at 33 million barrels a day in 2018, roughly in line with the amount it pumped before cutting production. Libya is a member of the Organization of Petroleum Exporting Countries that’s exempt from a group-wide production ceiling, though fighting has led to output cuts of around 37,000 barrels per day, or about 5 percent of total production based on January data.
Ecopetrol – A High-Risk Investment
It has been a tough two years for energy companies globally with sharply weaker oil placing considerable pressure on margins and the economic viability of a range of oil assets. One integrated energy company that has been hit particularly hard is Colombian government controlled integrated energy major Ecopetrol .