Oil

The outlook for oil demand growth in 2019 also put pressure on prices.

Iraq’s government is expected to launch a tender to develop the field this year.

OPEC and its allies have been reducing oil output by 1.2 million barrels per day since Jan. 1 to support the market.

Japan is the world’s fourth-largest consumer of oil — after the US. China and India.

Falih hopes oil producers will be able to balance the oil market before next year.

Energean Oil &. Gas Plc. the Greek energy producer that sold shares in London last year. is bidding for the oil and gas business of Electricite de France SA’s Italian unit. people familiar with the matter said.

Global oil supplies will increase far more than demand next year with the start of a host of new projects. putting further pressure on the OPEC cartel.

Oil demand is shriveling as the trade war between the U.S. and China trips up the global economy.

World oil demand will rise by 1.14 million barrels per day (bpd) this year.

API released the following statement as a bipartisan group of House lawmakers introduced legislation to guarantee $900 million in annual funding to the Land and Water Conservation Fund (LWCF).