Oil

Output from Saudi Arabia. OPEC’s de-facto leader and its biggest producer. fell 10.000 bpd from February to 9.87 million.

There are many banks in Russia that have established fair relationship with Iran.

Azar is shared with neighboring Iraq. where it is known as Badra.

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

Iraq’s oil exports for February exceeded 95.940 million barrels.

The liquidity for Shanghai crude futures will surpass that of DME.

Ecuador cut shipments to the United States by 86 percent and Kuwait cut exports by 58 percent. week-over-week.

Kuwait wants to transform into a business hub that attracts investments.

The risk for OPEC and its allies is that this sort of market share is hard to recover once the self-imposed production cuts are lifted.

Energy Outlook forecasts U.S. crude oil production to increase by 1.4 million b d in 2018 and the Brent-WTI spread to average $3.96 b.