Oil

Oil prices have plunged by around 30 per cent since their last peaks in early October.

The kingdom is considering slashing oil production by up to 1.4 million barrels per day (bpd) with OPEC members.

Aramco signed five new crude oil supply agreements with five Chinese customers in Shanghai in early November.

The company has a deal to buy 180.000 barrels per day (bpd)Iranian oil this fiscal year.

Relations between the Iraqi government and the KRG had been strained since September 2017.

OPEC and 10 non-OPEC partners. led by Russia. will meet December 6-7 to decide on output policy.

China’s total crude oil imports in October hit a record-high.

Saudi Arabia and its allies are now considering cutting output by 1 million to 1.4 million barrels per day.

The increase in the volume of this export will take place in several stages.

The US is now pumping an unprecedented 11.6 million barrel per day (bpd) of oil.