Oil

American oil production remained at its highest level ever at 11 million barrels per day.

The trade disputes among some of the leading partners in the world will eventually hurt global economic growth.

Analysts had expected that Iran would not agree to any specific production boost.

US crude oil imports averaged 7.7 million b d. up by 229.000 b d from the previous week.

U.S. crude stockpiles fell last week as refineries boosted output amid strong consumption.

World oil consumption would hit 100 million barrels per day later this year. ``much sooner`` than earlier projected.

The second-largest production increase came from Iraq and the United Arab Emirates.

China. the United Arab Emirates. Iraq. Afghanistan and India are the main destinations of Iran'.s non-oil exports.

Saudi Arabia still wants to keep oil prices as high as possible without offending Washington.

OPEC’s production rose in August as a recovery in Libyan output helped offset a cut in Iranian exports.