Oil

OPEC wants to develop a closer relationship with the U.S. shale industry.

OPEC'.s top executive said at CERAWeek on Tuesday that the 100-million barrel per day market is fast approaching.

Companies that continue to operate offshore have particularly poured fewer dollars into wildcat exploration.

Kirkuk crude sales have been halted since Iraqi forces took back control of the oil fields from the Kurds last October.

India follows China in terms of growth in the demand for oil.

Non-OPEC states pledged to jointly reduce oil output by 558.000 barrels per day.

In the current fiscal so far. the Middle East has accounted for 117.5 MT of crude oil supplies from India.

Production in 2018 is set to increase as new fields come on stream.

U.S. shale production is going to continue growing strongly.

The average cost of Iran exports to Iraq has been $460 since the beginning of the current Iranian calendar year.