Oil

The condition means no other country has the right to compensate for another country’s oil production decrease.

The market is now stuck in an OPEC-wary condition.

Libya has lost 450.000 barrels per day (bpd) of oil production due to clashes at the oil terminals of Es Sider and Ras Lanuf.

An average of 692.600bd of the country’s crude oil went to Europe in 2017.

The UAE minister said stock levels had dropped significantly since the beginning of 2017.

OPEC and its allies could consider a production increase of as much as 1.5 million barrels a day.

Government of India will seek responsible crude oil pricing from OPEC to ensure oil prices remain within common man’s reach.

OPEC+ as the Saudi-Russia alliance is called are mulling an ".ease-off". of compliance.

China retaliated by slapping duties on American export products. including crude oil.

On June 22-23. OPEC + participants will meet in Vienna to discuss options for further implementation of the transaction.