Oil

Oil short-selling has more than doubled in three weeks. with attacks on oil facilities and tankers unable to push prices higher for very long.

Nothing right now is stopping a surge in oil tanker rates that’s given owners of the vessels one of the biggest boosts in years.

Indonesia'.s oil and gas production reached a record 1.6 million barrels per day in the mid-1990s.

The Oil Industries Engineering and Construction and Negin Afagh Kish Energy Development Company have expressed their readiness to step in sophisticated exploration projects in Iran.

The deputy director of development and engineering affairs at the National Iranian Oil Company says Iran is fully self-sufficient in exploration activities.

The ongoing crisis in the South American country of Venezuela has also seen supplies from the nation drop from 7.6 MT to 6.2 MT.

Oil leak from the Iranian oil tanker SABITI that was targeted by two missiles in the Red Sea on Friday is under control. media reports said.

Two separate explosions hit an Iranian oil tanker operated by the National Iranian Tanker Company (NITC) near the Saudi port city of Jeddah. media reports said. adding that the blasts have been caused by missile attacks.

VLCC freight rates for key crude oil supply routes to Asia have surged since the US ratcheted up sanctions in recent months.