Energy Economy

The global oil market is on track to test storage capacity limits in as little as three weeks, requiring the shut-in of nearly 20% of global production, according to Goldman Sachs Group Inc.

An historic crash in crude prices is driving U.S. shale into full-on retreat with operators halting new drilling and shutting in old wells, moves that could cut output by 20% for the world’s biggest producer of oil and leave thousands of workers unemployed.

Romania is preparing to reopen after lockdown, but says its economy will never be the same again.

The latest front in the war against drilling for oil in Alaska’s rugged wildlife refuge isn’t Washington -- it’s Wall Street.

Iran’s non-oil exports to Iraq are reported to have increased by 0.7 percent. For the Iranian calendar year 1398 (ended on March 19), non-oil export to Iraq hit $8.9 billion, according to a deputy with the country’s Trade Promotion Organization (TPO). Tehran Times reports that medicines and medical equipment, plastic …

Iran’s government spokesman says the Islamic Republic is not after creating tension in the region, but any move against the country’s interests would be responded decisively. Ali Rabiei said Tehran is after establishing peace in the region, and is not seeking adventurism at all. “The US is the party which …

The need for increased energy efficiency and more use of renewables were the key takeaways from a roundtable hosted by the IEA and the German Government.

Vice Chairman of Board of Directors of Iran Electricity Industry Syndicate [IEIS] Payam Bagheri said that the Islamic Republic of Iran requires €5 billion worth of investment in its power plant’s industry per annum.

Statistical tables showed that 6,908,000 tons of steel ingot was exported from the country in the past Iranian calendar year [from March 21, 2019 to March 20, 2020].

Eurasia is a suitable opportunity for the expansion of trade cooperation between Islamic Republic of Iran and Belarus.