Oil

Libya’s national oil production fell to 527.000 barrels per day from a high of 1.28 million bpd in February following recent oil port closures.

According to IEA. Saudi Arabia will use its spare capacity which is predicted by as much as 2 million barrels per day.

The Permian. with 55% of all the active crude rigs in the country. is the busiest American field.

Trump’s order to OPEC members to increase production destabilizes the market.

The oil and gas rig count now stands at 1.052—up 100 from this time last year.

Russian government officials have become increasingly vocal about rising pump prices in recent weeks.

The total amount of oil Saudi Arabia supplied to the market in June was around 10.579 million bpd.

Nigeria has historically assumed a strong. proactive leadership role in OPEC.

Five conditions are needed to solve the crisis to get it over with the terrorist groups.

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