Oil

U.S. prices have been supported by a drop in crude inventories.

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

As the US sanctions on Iran'.s oil are booming. Washington sent two officials to satisfy China to cut off oil imports from Iran.

The oil industry went through a lot of restructuring and consolidation after the oil prices crashed in 2014.

Currently. non-OPEC supply outages are at a 15-month high of 730.000 barrels per day.

Trump has threatened that anyone trading with Iran will not do business with America.

OPEC and its allies agreed in late 2016 to cut output from 2017 by around 1.8 million barrels per day (bpd) versus October 2016 levels.

OPEC-member Iran has exported around 2.5 million barrels per day of crude oil so far this year.

Tehran embraces expanding relations and cooperation with Seoul in different domains.

Italy’s Eni Company is the winner of 39 oil wells in Iraqi Basra and Zubayr regions.