Oil

OPEC and its allies have agreed to cut production by 1.2 million b d through to the end of the first quarter of 2020.

Saudi Arabia. the world’s largest oil exporter. has already cut production more than required.

Saudi Arabia. the world’s largest oil exporter. has already cut production more than required.

Saudi Arabia. the world’s largest oil exporter. has already cut production more than required.

The two side also discussed the oil market conditions and the Kingdom’s keenness to maintain its stabilities.

Tensions in the Middle East have heightened in the wake of attacks on tankers and U.S. drones.

The Americans have not achieved any success against Iran.

There is large uncertainty surrounding demand .

The spokesman for the Atomic Energy Organization of Iran (AEOI) Behrooz Kamalvandi says with EU’s lack of practical measures. Iran will take the third step to reduce commitments under the nuclear deal within almost a month.

China has traditionally played a small role in Middle East conflicts or diplomacy despite its reliance on regional oil.