Oil

Iranian Petroleum Minister Bijan Zangeneh in various meetings with his counterparts reviewed oil market development.

Tensions are expected to rise yet further after the 13th June attack on two US tankers in waters between the Gulf Arab states and Iran.

OPEC nations are bearing the burden of the market-share loss unevenly.

China does not support US policy on eliminating Iran'.s oil exports. the director-general of the Department of Arms Control at the Chinese Foreign Ministry stated.

The deal removed 1.2 million barrels a day of OPEC+ production. helping to send oil prices higher.

The two sides will discuss their oil policies at the meeting scheduled for July 1-2 in Vienna.

China and India are among the world’s top oil consumers while Russia supplies oil to both of those nations.

Iran’s oil and gas industries are growing reliance on domestic capacities and indigenous technologies. Iranian Deputy Oil Minister Alireza Sadeqabadi said.

US crude exports will keep rising as domestic production grows.