Energy Policy

A trade war is not good for the U.S. oil and gas sector.

Iran had demanded OPEC reject calls from U.S. President Donald Trump for an increase in oil supply.

On June 10. the Russian president confirmed he was ready to meet with Trump as soon as Washington was ready for the summit.

OPEC and its 10 non-OPEC partners have agreed to restore compliance with their production cuts to 100%.

Saudi Arabia and its allies estimate that total cuts now amount to 2.8 million barrels.

Falih said any raising of output would be measured.

Higher oil prices help U.S. shale producers.

China'.s aggressive riposte to Trump took some in the industry by surprise.

Tehran says it has Iraqi and Venezuelan support to veto any proposal for more output.

The producers meet on June 22-23 in Vienna and will discuss a gradual easing of the supply cut.