Oil

Iraq’s exports from the south were set on a record pace in August.

14 petrochemical projects have been inaugurated since 2013. and six more projects will be inaugurated next year.

The government is looking for extra money to implement President Vladimir Putin’s pledges of higher social spending and better infrastructure over the next six years.

The moves by the two top buyers of Iranian crude indicate that Iran may not be fully cut off from global oil markets from November.

The October OSPs will also mark the first change in Saudi’s crude price benchmarks since the mid-1980s.

The biggest increase in supplies this month has come from Libya. whose output remains volatile due to unrest.

The US threat to go after foreign businesses in Iran has been harshly criticized in Europe.

Sale of the oil from the reserve was mandated by previous laws to fund the federal government and to fund a drug program.

Tokyo has asked Washington to exempt Japan from the embargo.

OPEC oil output rose last month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record.