Oil

Fast-rising production from non-OPEC counties. led by the US. is likely to outweigh demand according to the IEA document.

Iraq has resumed transporting oil products by rail from the Dawra refinery in Baghdad to Basra in the south which was halted after the 2003 U.S.-led invasion.

The deal had achieved two thirds of what it was intended to do.

Demand for this year is expected to be good. if not better than 2017.

The Indian consortium contributed a participation fee of around $599 to enter concession.

The volume of exports to China was 28.19 million tons. 5 percent less year-on-year.

OPEC member Iran revealed plans to ramp-up production by at least 700.000bpd within the next four years.

UAE-based firm plans investment of $1b to boost gas production to 500m cubic feet by 2020

EIA reported that Russia. however. is the largest oil supplier to the Chinese market.

The weaker dollar boosts U.S. exports. supporting shale producers.