Parvin Faghfouri Azar

India to soon Overtake China as Largest Oil Demand Driver

India will soon overtake China as the largest driver of global oil demand, International Energy Agency (IEA) chief Fatih Birol said on Wednesday, according to Reuters. Birol made this statement during a G20 event in New Delhi, emphasizing the “rapid growth of electrification in cars and buses in China as …

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Bargain Hunters Boost Oil Prices ahead of Fed Meeting

Crude oil prices climbed early on Tuesday morning after ending trade on Monday with yet another loss, driven by demand concern. As the latest Fed meeting begins today, however, eyes will be on the U.S., with most analysts expecting the central bank to announce a pause for rate hikes. That …

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Iraq Produced well Below its OPEC+ Quota in May

Iraq produced 3.955 million barrels per day (bpd) of crude oil in May, up 17,000 bpd from April, a source at state-owned marketer SOMO told Reuters on Tuesday. The May production, according to SOMO, was 265,000 bpd below Iraq’s OPEC+ quota when including pledged additional voluntary cuts. Iraq’s production has …

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