International

Over the past year. Russia has consolidated its position of China’s biggest oil supplier ahead of number-two Saudi Arabia.

The US president first brought the subject up in a meeting with Iraq’s then-leader Haider al-Abadi in March last year.

In 2017. 1863 exploration projects were carried out in Turkey to search for new oil and gas fields.

Venezuela has struck a $1.4 billion deal to retain control of Citgo Petroleum Corp.

Egypt has signed a deal with Cyprus for the construction of a pipeline that will channel gas from the island’s Aphrodite field to facilities in Egypt.

Saudi Arabia says repeatedly that it won’t balance supply and demand on its own.

Thanks to shale. US oil production surged to a record level of 11.6 million barrels per day earlier this month.

Libya has northern Africa'.s largest proven reserves of oil - at 48 billion barrels.

As oil prices have headed south. Saudi Arabia said it would cut exports by 500.000 bopd next month.

The sanction freezes any property or interests of the designated individual within the US or in possession of US citizens.