Oil

Compliance with supply cuts was 109% in July.

Crude oil exports from southern Iraq are close to a record-high so far in September.

Saudi Arabia has made the mistake of trying to compensate for the loss of Iranian supplies with just-in-time replacement.

In the near-term. the US seems to be counting on Saudi Arabia and Russia. along with American shale drillers. to offset the losses from Iran.

U.S. President Donald Trump increased pressure on OPEC to ``get prices down now!``

U.S. President Donald Trump linked American support for Middle Eastern countries to oil prices.

Two OPEC members are looking to damage the group and undertake policies against Tehran for the US.

The tariffs are likely to limit economic activity in both China and the United States.

Iraq had oil reserves of 153 billion barrels as of last year.

Russia has already reversed most of its own production cuts as part of the deal.