Oil

An oil pipe exploded in Buri village in Bahrain on Friday night.

Crude benchmarks end the week higher for the fifth straight week despite Friday’s pullback.

Outside the kingdom. the impact will be felt in business. finance and oil markets.

Iran and Iraq signed a basic agreement in February that envisaged exporting Iraqi oil through the Iranian territory .

The natural gas rig count remained unchanged with a total of 169 this week.

The natural gas rig count remained unchanged with a total of 169 this week.

Orbital satellite data suggests that Saudi Arabia’s crude oil inventories have risen slightly since early 2016.

The higher the price goes in the short run the more difficult it will be to return the oil taken off the market.

As the higher oil prices and the cost cuts resulted in strong cash flows for Big Oil. the companies are now trying to reward their shareholders.

Venezuela lost the top spot to Brazil amid triple-digit inflation. unpaid debts to oil-service companies and lack of investment.