attack of the large Saudi Arabian refineries in this past September. During this quarter Bangchak refinery had a utilization rate of 110. 8 KBD due to the planned maintenance of the Hydrocracking Unit to
Arabia, Kingdom of - - 85 Serbia, Republic of - - 86 Singapore - - 87 Slovak Republic - 88 Slovenia - 89 South Africa - - 90 Spain - 91 Sri Lanka - - 92 Srpska, Republic of
that the amount of oil produced is to be lowered by 9. 7 million barrels per day in May and June 2020. Simultaneously, Saudi Arabia announced to cut oil output by an extra 1.0 million barrels per day in
OPEC members to lower the production quantity of crude oil, as to stabilize crude oil price. As well as Saudi Arabia’ s desiring to keep oil price at high levels, the rise in oil price levels is
production reduction period by 9 months to the end of December 2018. The market received pressure from the tension in the Middle East due to the conflict between Saudi Arabia and Iran over concerns of war in
further clamped down from Saudi Arabia lowering their crude export in the quarter due to increasing demand in the nation during the summer. As well as, Libya and Nigeria, both members of OPEC which did not
after Saudi Arabia lowered its production throughout Q1/2019, raising Dubai crude oil price in comparison to Dated Brent. Whereas, Dated Brent oil price was under pressure, after Shale Oil production of 7
levels far below their agreed upon target by 150% during Q2/2018, which can mostly be attributed to reductions by Saudi Arabia, and production difficulties in Venezuela, as well as the US opting out of the
to lower production once again by 1 million barrels per day for the first half of 2019, beginning in January 2019. While Saudi Arabia has lowered their production levels prior in December 2018 by as
and the eruption of an oil price war between Saudi Arabia and Russia, there were rising fears that the economy would plunge into deep recession – a signal of an imminent economic crisis. Given this