Oil

Crude oil prices were slightly up during the week with declines in U.S. crude oil inventories and production.

Tehran’s measures to cushion the impacts of US sanctions against the country would take Trump by ``surprise.``

OPEC and its allies meet in June to decide whether to continue withholding supply.

Several geopolitical factors in the coming months could lead to higher oil prices than the current $71 a barrel Brent.

Oil supplies from OPEC slid to their lowest level in four years in March.

In 2018 OPEC+ decided to increase output at its mid-year meeting. only to return to production cuts in 2019.

The sudden risk to Libya’s oil supply comes at a time when the broader global oil market is tightening.

Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member. four sources said.

Iranian exports of crude oil and condensate have surged to levels near before sanctions. surprising market observers and affording the country an important victory in a US economic war on Tehran.

Libya is a significant supplier of oil to Europe. producing around 1.1 million barrels per day (bpd) of crude in March.