Oil

India and Iran also had extensive deliberations on ways to deal with the impact of US sanctions.

The threat of further supply disruptions hasn'.t totally evaporated.

Last month. members of OPEC agreed to pump an additional 1 million barrels of crude daily.

Venezuela now produces almost half of the oil it did two decades ago.

Some oil majors have started to acknowledge a peak in oil demand could come by the 2030s or even earlier.

Saudi Arabia’s compliance with OPEC’s output-cut deal fell to 26 percent in June.

The United States holds a reserve of about 660 million barrels.

South Korea’s crude imports in the first six months of this year were 74.11 million tonnes.

OPEC is a 14-country oil cartel. which includes Nigeria.

Tripoli-based NOC operates Sharara in partnership with Repsol. Total. OMV and Equinor. formerly known as Statoil.