International

Venezuela’s oil production has declined to just 1.488 million barrels per day (mb d) as of March.

Gazprom is ready to hold negotiations with Naftogaz of Ukraine on gas transit after the expiration of the current contract.

Saudi oil giant plans to trade as much as 6 million barrels a day.

Oil has rebounded to over $70 a barrel. after prices crashed to as low as $26 in January 2016.

In recent years. American reliance on foreign petroleum has dropped.

Many of the world’s biggest oil companies. like BP. Total. Royal Dutch Shell and Eni. have operations in Iraq.

Gasoline stocks dropped by 3 million bbl. compared with analysts'. expectations in a Reuters poll for a 227.000-bbl drop.

OPEC and other suppliers including Russia will discuss continuing the global production limits beyond the end of the year.

According to Nord Stream 2. all necessary permits needed for the project have also been received in Germany.

Ukraine opposes the North Stream-2 project.