Oil

Saudi Arabia’s latest strategy of ‘produce as much as you can’ will hurt spare capacity.

Third-quarter profits for oil producers generally should be higher than a year ago.

Saudi Arabia admitted late last week that the journalist was killed in what it described as a ``brawl`` in the Saudi consulate in Istanbul.

Washington reimposed sanctions on Tehran after the US withdrawal from the Iran nuclear deal in May.

Iran is considered as a supplier of high-quality cutter stocks for bunker fuel.

Annual spending is around £77billion too low to sustain production and ensure future demand growth.

The IEA said it looked in particular at Iraq. Nigeria. Russia. Saudi Arabia. the United Arab Emirates and Venezuela.

Brent crude prices stabilized on Wednesday after heavy losses the day before. with looming U.S. sanctions against Iran back in focus.

Up to £330bn could be spent on extracting oil and gas from UK waters over the next three decades.

U.S. crude oil production has climbed by almost a third since mid-2016 to around 11 million barrels per day.