Oil

Iranian President Hassan Rouhani said: ``It has no meaning for Iranian oil not to be exported. while the region’s oil is exported"..

OPEC and non-OPEC countries decided in late 2016 to cut output by 1.8 million barrels per day to boost oil prices.

Moscow and Riyadh recently announced their desire to pump more oil after a relative hike in prices.

The statement said the kingdom will coordinate with other producers.

Trump warned close U.S. allies in an interview that aired on Sunday with a threat to sanction European companies that do business with Iran.

Kuwait will raise its oil production by 85.000 bopd as part of a recently reached OPEC agreement.

U.S. President Donald Trump has introduced numerous tariffs on imports.

State oil giant Saudi Aramco sets its crude prices based on recommendations from customers.

Saudi Arabia cannot add 2mn bpd to the oil market.

OPEC agreed with Russia and other oil-producing allies this month to raise output from July by about 1 million bpd.