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Organization of Petroleum Exporting Countries

The Organization of the Petroleum Exporting Countries (OPEC) is a permanent, intergovernmental Organization, created at the Baghdad Conference on September 10–14, 1960, by Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. The five Founding Members were later joined by nine other Members: Qatar (1961); Indonesia (1962) – suspended its membership from January 2009-December 2015; Libya (1962); United Arab Emirates (1967); Algeria (1969); Nigeria (1971); Ecuador (1973) – suspended its membership from December 1992-October 2007; Angola (2007) and Gabon (1975–1994). OPEC had its headquarters in Geneva, Switzerland, in the first five years of its existence. This was moved to Vienna, Austria, on September 1, 1965. OPEC's objective is to co-ordinate and unify petroleum policies among Member Countries, in order to secure fair and stable prices for petroleum producers; an efficient, economic and regular supply of petroleum to consuming nations; and a fair return on capital to those investing in the industry.

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    • décembre 2018
      Source : Organization of Petroleum Exporting Countries
      Téléchargé par : Knoema
      Accès le : 13 décembre, 2018
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      Balance=OPEC crude oil production-Difference (a-b) Global oil demand, supply, oil market balance and required amounts of OPEC crude.   World oil Demand: World oil demand growth in 2018 was revised downward by around 20 tb/d, primarily as a result of the slower-than-expected performance by non-OECD Latin America and the Middle East during 2Q18. Hence, world oil demand growth is now pegged at 1.62 mb/d, with total global consumption at 98.82 mb/d. World Oil Supply Non-OPEC oil supply in 2018 was revised down by 0.06 mb/d from the previous MOMR to average 59.56 mb/d, mainly due to a downward adjustment in the supply forecast for Brazil, the UK, India, Malaysia and China on lower-than-expected output in 2H18, which was partially offset by an upward revision in US supply. Y-o-y growth was also revised down by 0.06 mb/d to now stand at 2.02 mb/d. The US, Brazil, Canada, Kazakhstan and the UK are expected to be the main drivers for y-o-y growth, while Mexico and Norway will show the largest declines.   World Economy Global economic growth forecasts remain robust for 2018 and 2019, at 3.8% and 3.6%, respectively. While the growth levels are unchanged from last month, a number of offsetting developments, particularly rising challenges in some emerging and developing economies, are skewing the current global economic growth risk forecast to the downside. Rising trade tensions, and the consequences of further potential monetary tightening by G4 central banks, in combination with rising global debt levels, are additional concerns
  • O
    • août 2018
      Source : Organization of Petroleum Exporting Countries
      Téléchargé par : Knoema
      Accès le : 19 décembre, 2018
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      The date has been considered the highest number although it has a range which are as. 2014- 2020 for 2020, 2020-2030 for 2030, 2030-2040 for 2040
    • août 2018
      Source : Organization of Petroleum Exporting Countries
      Téléchargé par : Knoema
      Accès le : 16 novembre, 2018
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      1. Stock change assumptions reflect the development of Strategic Petroleum Reserves (SPR) in some non-OECD countries, and the rising need for stocks as refinery capacity expands. These rates of rise in stocks will eventually slow, as growth in SPR slows as does refinery expansion. The medium-term pattern eventually reverts, in the long-term, to historical average behavior. 2. For Indicators, like Long term real GP growth rates the date has been considered the highest number although it has a range which are as. 2014- 2020 for 2020, 2020-2030 for 2030, 2030-2040 for 2040