Oil

Most of the oil production growth of the United States comes from the Permian Basin.

Non-oil exports from Iran’s South Pars. the world’s largest gas field. rose 23 percent over the past year.

According to analysts. Iran’s crude oil exports have fallen sharply due to US sanctions.

Oil prices rose on Friday. supported by signs that US sanctions on Iran are already reducing global crude supply.

Trump’s administration is pushing allies to cut imports of Iranian oil to zero.

Fifteen of the 25 analysts polled by International Business Times expect Iran’s sanctions to drive oil prices up.

The Trump administration will offer 11 million barrels of crude from its reserves.

In U.S. oil markets. a decline in commercial crude inventories provided WTI with stronger support than Brent.

The United States is showing interest in the participation of Russian businesses.

Timing may reflect the White House’s concern over a tight oil market.