Oil

OPEC hopes the market rebalancing will accelerate in the second half of this year.

Italy purchased 2.8 million tons in the four-month period. accounting for nearly 30% of all imports.

Kirkuk will take part in the referendum this fall. deciding whether they want to remain with Iraq or join Kurdistan’s bid for independence.

The U.S. buys about a third of Venezuela’s crude production and is the main buyer that pays in cash.

The Azar field is a joint and complex field which is currently producing 30.000 barrels of oil per day. It is set to be expanded through new oil deals by an Iranian company.

Iraq. the second-biggest producer in OPEC. will also attend the meeting. the people said.

The company has performed more than 96.000 meters of drilling operations during the four-month period.

On July 26 oil prices continue rising.

Over past years. Petroleum Ministry paid its main attention to develop oilfields in the Persian Gulf.

Between January and June 2017. the participating producing countries adjusted their production downwards by an estimated volume of 351 million barrels.