Tag: crude production

Crude prices fall as Russia suggests it will raise output

Crude oil prices fell Tuesday from five-month highs as Russian comments signaled the possible easing of the Opec+ supply-cutting deal overcame concern violence in Libya could tighten global markets, Kallanish Energy reports. A U.S. threat to place tariffs on hundreds of European goods and a downgrade by the International Monetary Fund in its global economic

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Venezuela oil output is said to have dropped by 50%

Power failures that kept Venezuela in darkness for much of March also briefly slashed the country’s crude production by 50%, people familiar with the situation told Bloomberg. Rolling blackouts across much of the country that started on March 7 temporarily paralyzed most of the country’s oil industry, Kallanish Energy finds. Oil output averaged less than

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