New rules on the oil market
On October 19th OPEC secretary gave a speech at “Oil & Money conference” in London. The objective of the event was to restore balance and sustainability at the oil market.
The participants discussed the current situation of the oil market and emphasized on the importance of the recent Algiers Agreement taken by the Organization at the 170th (Extraordinary) Meeting of the OPEC Conference.
It was drawn that the Аgreement was caused by the fundamental factors of supply, in particular the high level of inventories accumulated in recent years against the background of oversupply, often happened due to the high cost regions.
In addition to these topics other important oil-producing market were raised, for example, the question of new technologies, the demand for oil, climate change, energy policy and many more.
OPEC secretary general also informed about the scheduled meeting with the countries outside of OPEC, which will take place on October 29 in Vienna. The purpose of this event will be to approval of the balance of oil production.
Triol Corporation as a leading manufacturer of oilfield equipment focuses primarily on the needs of customers and follows industry trends.
In the infographic below you can find out the information about how and by what OPEC has an impact on the oil companies.
Voltage inverters, frequency inverters, variable frequency drives (VFD), variable speed drives (VSD), soft starters, LESP of Triol Corporation are the right solutions for your oil company!
The petroleum industry exists to supply a wide range of essential products to a variety of…
Triol Corporation provides not only solutions for oil production, but the future image of oilfield…
TriolCorp has launched new Internet store of variable speed drives. Now you can buy customized…
Triol Corporation is a well-known leader in manufacturing equipment for artificial lift serving the needs…
Must-Have Solution Variable frequency drive application field is so broad that it is hard to…
Currently, intelligent lift is one of the most solicited trends in oil production, due to…
Permian Basin has a rich history connected to oilfield development. Recently, the region hosted a…