Oil

Oil rose for a third session. the longest winning streak since early January. after the World Heath Organization rekindled optimism that the coronavirus outbreak could be abating.

OPEC and its partners have been limiting supply since 2017.

According to the latest report of OPEC. Iran produced 2.086 million barrels of crude oil per day in the first month of 2020.

Investment risks should be offset by increased interest rates and returns.

Last year. Iran eyed 300.000 barrels per day oil production from its West Karoun oilfields.

Qatar Ready to Re-Route Oil. Gas Cargoes to China due to Spread of Virus.

Chinese oil demand accounted for 13% of the global total in 2019.

Beijing has improved its crisis management since the 2003 SARS virus.

Three of the world’s largest oil traders are seeking to store crude on tankers at sea as the industry tries to deal with a glut that’s emerged since the outbreak of the coronavirus in China.