Oil

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.

The US president had launched a sharp public attack on Germany on Wednesday for supporting a Baltic Sea gas pipeline deal with Russia.

Russia is ready to invest in crude exploration and production. as well as refining.

A sharp growth in fuel prices that have risen by over 8% year-to-date. has forced the authorities to take emergency measures.