Oil

Russia agreed to expand its 228.000 bpd in cuts by an additional 70.000 bpd for a total of about 300.000 bpd.

Libya’s largest functioning refinery in Zawiya is located around 49 kilometers (30 miles) from the capital. Tripoli.

OPEC+ will meet in early March to discuss options for future cooperation on supply.

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries and a mixed outlook for demand. according to analysts.

The National Iranian Oil Company (NIOC) announced that it will soon disclose further details on a newly discovered oilfield in the Southwestern province of Khuzestan. where the NIOC has already found a giant oil reserve that was declared in last month.

The National Iranian Drilling Company (NIDC) has successfully completed drilling operations on 88 oil and gas wells over the first 9 months of the current calendar year.

Kuwait and Saudi Arabia could reach an agreement by the end of this year to renew oil output.

Persian Gulf Star Refinery has initiated a scheme aimed at preserving Iranian cheetahs in Geno mountains. Hormuzgan Province. southern Iran.

Once a highly sought-after grade of oil from the Middle East. Abu Dhabi’s Murban is falling out of favor as the world’s top refiners seek out other types of crude ahead of a historic ship-fuel overhaul.

JP Morgan Research expects the oil price to peak in the first three months of 2020.