International

North African country aims to reach a target of 1.6 million barrels a day from 1.25 million barrels currently.

OPEC has no capacity to compensate for a lack of oil output caused by the US.

Tthis country is the biggest in terms of crude oil reserves.

Saudi Arabia and Russia could formalize a strategic partnership. marking a new era for the oil market.

Sanctions on Iran are expected to remove about 1 million barrels a day from the world market by the end of the year.

Russia will take leadership for the new secretariat.

Iran’s oil exports could fall by as much as two-thirds due to the sanctions. straining oil markets.

The company plans to invest around 3 trillion won ($2.6 billion) in the global projects between now and 2025.

ADNOC has a target to have production capacity of 3.5 million bpd by the end of this year.

China last month imposed retaliatory tariffs on an additional $60 billion worth of US imports.