Oil

U.S. oil production may not be growing quite as fast as everyone thinks.

Japan’s imports of Iranian oil increased by 10 percent in June compared to the same month last year.

Saudi Arabia’s stated spare capacity is actually lower than its actual spare capacity.

Iraq exported 3.521 million bpd of crude oil in June.

Iran is now offering to insure oil cargoes to India after some insurers stopped providing the service in the face of the impending sanctions.

OPEC hiked production by 70.000 barrels per day (bpd) to 32.64 million bpd. the most this year.

OPEC’s crude oil production rose by 70.000 bpd from June to stand at 32.64 million bpd in July.

Iran exports a wide range of oil products to Ghana including tar and various kinds of industrial oil.

The loss of Iran could pull millions of barrels off the market at a time when spare capacity is at a premium.

US oil rig counts were up by two to 1.048 for the week ended July 27. according to Baker Hughes