Oil

Producers in the Middle East. most of which are OPEC members. have supplies that are relatively less expensive to produce.

Venezuelan crude exports to the U.S. fell last month to their lowest levels since January 2003.

Higher oil prices can bring in more cash to the balance sheet.

This is the highest premium for the flagship Saudi grade since September 2014.

US crude production set to touch 9.9m bpd this month. well above EIA forecasts.

U.S. drillers added two oil rigs to reach 749 in the week ended Dec. 1. the highest level since late September. according to Baker Hughes.

European companies resumed purchase of oil cargoes from Iran since implementation of the Joint Comprehensive Plan of Action (JCPOA) in 2015.

South Pars is estimated to contain over six billion barrels of crude oil with the recovery rate of 10 percent.

The oil can be transferred both to Iran’s northern refineries and the southern export terminals.

The U.S. has for months insisted that more radical measures be taken against the North Korean regime.