Oil

Oil slumped as escalating trade hostilities between the U.S. and China stoked fears of slowing global growth.

Russian oil production continues to trend lower in May as exports via the Druzhba oil pipeline have been restricted due to a contamination issue.

Norway’s oil and gas companies plan to spend 17 percent more this year. at about US$21.11 billion as they step up their exploration.

Forecasters at these major oil organizations simply do not understand that we are in a new age of rapid technological advancement and innovation.

New oil and gas discovered through high-impact drilling fell by as much as 50 percent between 2014 and 2018.

OPEC and some allies including Russia are due to meet next month to discuss output policy going forward.

It is easier to trade in domestic currency as India has the option to route payment through one of India'.s state-owned banks.

China'.s crude oil imports from Iran hit a five-year high in April at 792.380 b d or 3.24 million mt. before the expiry of US sanction waivers for Iranian oil May 2. data released Sunday by the General Administration of Customs showed.

Indian New govt plans to hold talks with Iran at the earliest to discuss ways to resume oil imports and is even looking to pay in Indian currency. ThePrint reported on Tuesday.