Oil

EIA data showed the inventories jumped almost 10 million barrels last week.

Russia is the only participant that can reduce production gradually as was the case in 2017.

The United States has demanded that buyers of Iranian oil stop purchases by the start of May or face sanctions.

Saudi'.s oil production would be much lower than 10 million bpd until the end of next month.

Saudi Arabia’s fiscal break-even could be as high as $95 per barrel this year.

The cuts have been supported by some non-OPEC producers. most notably Russia.

The 21-mile Strait of Hormuz at the mouth of the Persian Gulf handles roughly 40% of global crude trade.

The US president'.s threat to decrease Iran'.s oil sales is an illusion.

For years. Libya has been split between two governments.

Armed forces of the country are responsible for maintaining security of Strait of Hormuz.