Oil

With crude inventories down. Goldberg expects Brent to climb about 15% from current levels of $68.50 bbl to about $80 bbl.

The world’s top oil exporter aims to hold its production at around 9.8 million bpd level from January until March.

Iran is currently producing 4.5 million tons of ethane annually which will cross 6 mt y next year and 10 mt y by 2020.

OPEC and its partners see merit in maintaining their curbs into 2019.

The ministers noted that the level of the deal’s implementation had exceeded 100% in the past five months.

The price of Iran'.s light oil increased by 1.69 dollars in the mentioned period to reach 69.26 dollars per barrel.

Falih and UAE minister Suhail al-Mazroui said they did not think the rise in prices would hurt global demand for oil.

OPEC. supported by Russia and other non-members. began to reduce output a year ago to remove an oil glut built up in the previous two years.

Saudi Arabia’s energy minister urged global oil producing nations on Sunday to extend their cooperation beyond 2018.

Sanchi had held a million barrels of light condensate oil. which is highly toxic and flammable.