International

The Energy Information Administration (EIA) Data showed, on Saturday, that Iraq’s export oil to the United States increased to 300 thousand bpd in the last week. EIA stated in a report, “The United States oil exports recorded 5.751 bpd in the second week of June.” The top three source countries …

India’s fuel demand jumped by 13 percent in the first two weeks of June, for a first monthly rise since March, suggesting that the worst of the impact of the second COVID wave has peaked and consumption is rebounding. Sales of diesel, the most used road fuel in the world’s …

The EU has historically been a major energy importer, with a majority of its oil and gas coming from Russia or the Middle East. Now, as Europe decarbonises its industry, some countries fear it could increasingly become dependent on imported hydrogen. Energy ministers from the 27 EU member states exchanged …

Turkish authorities have shared data on its Black Sea discovery with a duo of U.S. energy majors with possible gas extraction cooperation in mind. Turkey shared its data with Chevron and ExxonMobil regarding its 540 billion cubic-meter Sakarya gas field in the Black Sea, an official with knowledge of the …

The Organization of the Petroleum Exporting Countries (OPEC) and its allies such as Russia (known as OPEC+) agreed in April 2020 to reduce oil production by 9.7 million barrels per day (mmbd) to stabilize falling oil prices. The landmark decision was meant to stabilize and lift oil prices that were …

Investors have set their sights on $100 a barrel for oil as the US Energy Information Administration (EIA) forecast a decline in global oil inventories in the second half of 2021 in its June Short-Term Energy Outlook (STEO). Traders have scooped up call options tied to Brent and West Texas …

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) maintained strong compliance with agreed oil output targets in May, when the first part of a gradual production increase took effect, Reuters reported. OPEC+ complied with 115% of the agreed output curbs in May, the source said. It said …

When Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman announced that Saudi Arabia was no longer an oil-producing country, he likely didn’t mean literally. “Saudi Arabia is no longer an oil country, it’s an energy-producing country,” the Energy Minister told S&P Global Platts this week. Saudi Arabia has high green …

The UN Secretary General’s Special Envoy for Yemen Martin Griffiths met Ali-Asghar Khaji, the Iranian Foreign Minister’s senior advisor, to discuss the latest developments in Yemen. In this meeting, the two sides conferred on the latest political and on-the-ground situation of Yemen, especially the recent visit of Mr Griffiths to …

Oil-exporting countries in the region are expected to fare better this year as higher crude prices bolster their finances Cairo, Egypt. The Arab world’s third-largest economy was one of a few economies to escape a coronavirus-induced contraction in 2020 but growth is expected to soften this year. Reuters The Middle …