OPEC and its allies are discussing extending their supply pact for as long as nine months.

A total of 48.000 contracts have traded over the last few days that would profit most if Brent spikes before Christmas.

Iran is willing to accelerate the development process of its petrochemical industries.

Iran'.s own data submitted to OPEC pointed to bigger cuts.

The Venezuelan economy has been in recession for four years. where food shortages. the lack of U.S. dollars and the depreciation of its own currency. has sent inflation soaring.

Output cuts by OPEC and other producers such as Russia and Oman have started to pay off.

U.S. oil producers have raised output C-OUT-T-EIA by more than 14 percent since mid-2016 to a record 9.62 million barrels per day.

The group sees U.S. shale fizzling out after 2025. leaving OPEC once again in charge.

Iraq and Turkey remain to be main importers of Iranian natural gas and Tehran is eying to increase its gas exports to its western neighbors.

The policy dialogue titled ``Status of Petroleum E&.P in Pakistan: A Deliberation on Future Strategy"..