The US decision sent oil futures surging Wednesday as traders digested the likely consequences.

Saudi Arabia is ready to offset any supply shortage but it will not act alone to fill the gap.

Moscow is not against keeping a certain amount of transit through Ukraine.

Experts believe that the US move would bring uncertainty to prices.

Former Shell Oil President John Hofmeister said leaving the Iran nuclear deal carries long-term implications on the price of oil.

The document was signed on the sidelines of the 23rd International Oil. Gas. Refining and Petrochemical Exhibition in Tehran.

Iran will reach self-sufficiency in production of all catalysts and the deals are symbols of support for domestic production.

Iran will reach self-sufficiency in production of all catalysts and the deals are symbols of support for domestic production.

Iran is one of the world’s largest oil producing countries.

EIA reported Wednesday that crude supplies fell by 2.2 million barrels for the week ended May 4.