Aklidata Technologies

Tag: oil production

  • OPEC and allies increasing oil production

    After much deliberation, the OPEC oil cartel and allied countries are ready to end the steep dip in oil production that had been taken due to the COVID-19 pandemic. The nations had deliberately reduced the oil supply in order to keep prices from plummeting. The Associated Press has the story: OPEC to add back 2…

  • Saudis not ready to increase oil production yet

    Due to ongoing uncertainty about the course of the COVID-19 pandemic, Saudi Arabia’s energy minister said OPEC needs to be very cautious about resuming pre-pandemic oil production levels, because raising them too soon could depress prices. Russia, on the other hand, is more eager to increase production because its budget can handle a price drop…