Oil

The United States and China cooled their trade war on Friday.

Development of three oilfields in Iran has been assigned to a domestic company. CEO of the firm. which is a subsidiary of the National Iranian Oil Company announced.

Maroon Oil and Gas Production Company had managed to localize manufacturing of 500 items including 8.000 pieces used in oil and gas operations since March.

Gachsaran Oil and Gas Production Company (GOGPC) has signed 54 deals with local manufacturers for production of oil industry items and parts.

The United States was a net oil exporter for the first time in decades in September.

The government would manage to sell up to one million barrels per day (bpd) of crude in the next Iranian calendar year.

The biggest reduction is expected to be in U.S. shale output.

Iran exports 8 million tonnes of methanol in a year. which the US has been unable to affect. despite all claims of American officials.

The largest and most significant single driver for all financial asset classes for next week will be the outcome of US-China trade negotiations.

A senior energy official announced that Iran can now export some 25 million to 30 million liters of gasoline per day as a result of the implementation of the gasoline rationing scheme that recently came back into force.