Oil

Surging U.S. production. which rose to 10.59 million bpd last week. has encouraged record-high U.S. exports.

Ministers from OPEC and non-OPEC oil-producing countries plan to meet in Vienna on June 23.

Trump will decide by May 12 whether to restore the sanctions. which would probably result in a reduction of Iranian oil exports.

Iraq’s 2018 budget of nearly $88 billion comes with a deficit of more than $10 billion.

Iran’s total export of crude oil and gas condensate is now more than 2.5 million barrels a day.

Azar holds 2.5 billion barrels of in-place oil. but new reservoir studies on the field suggest a much higher figure of 4 billion barrels.

A rise in geopolitical tensions has been the main driver of prices in recent times.

Iraq is the Organization of the Petroleum Exporting Countries’ second-largest producer after Saudi Arabia.

IEA expects an increase in shale oil production and exports to Europe and Asia in the long term.

China’s total crude oil imports in March rose to the second-highest on record at 9.2 million bpd.