The gas transmission capacity of the project can be increased to 24 billion cubic meters first and to 31 cubic meters with additional investments later.

Saudi Arabia’s fiscal break-even could be as high as $95 per barrel this year.

The alliance between the two Asian countries is likely to bode well for other Asian oil importers too.

Iranian and Turkish officials have already reached agreement to set up a joint bank.

Nations in Asia are mostly dependent on West Asian producers for their demand for oil.

Iraq has repeatedly announced that the economic and cultural ties between Iran and Iraq are historic.

The cuts have been supported by some non-OPEC producers. most notably Russia.

Energy-related carbon dioxide emissions in 2018 rose by 1.7% to 33.1 billion tonnes from the previous year.

The 21-mile Strait of Hormuz at the mouth of the Persian Gulf handles roughly 40% of global crude trade.

The USA is declaring trading war against major economic entities like China and EU.