Oil

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.

Crude oil prices have been moving higher since last month and are up 33 per cent in the year to date.

The US decision damages regional cooperation and Turkey’s trade relations.