Oil

Oil crashed to its lowest levels in over a decade in February 2016 from a high of $115 a barrel three years ago.

The history of U.S and her partners in energy policy shows oil has been applying as a political weapon in many cases.

The IEA estimates that the wave of energy digitalization could lower the cost of production by 10 to 20 percent.

Rising U.S. production helped fuel a slump in prices.

The group is ``extremely assured. optimistic`` for oil in the short and medium term. with investments flowing back sooner than later.

Last week. news emerged about preliminary plans to build a $20 billion complex to convert crude oil to chemicals.

OPEC was discussing ‘soft targets’ of around 1.8 million bpd for Nigeria and 1 million bpd for Libya.

Over 800 tankers and vessels of all sizes berthed at the terminal in the last fiscal. up from 540 in the previous year. or around 33%.

Oil prices have risen by more than 20% since September on the back of expectations for a deal extension.

The market had been looking forward to a supportive number due to the pipeline disruption from Canada.