Oil

The price for October futures of West Texas Intermediate (WTI) dropped by 0.98 percent and stood at $47.40 per barrel.

The world’s largest oil exporter shipped almost 4 million tonnes of crude to China in July.

Essar Oil'.s new owners will settle over 2 billion euros ($2.4 billion) owed to Iran for past oil purchases.

In the meantime. other foreign companies are welcome to discuss their interest in the gas field.

Officials place condensate exports between 600.000 and 700.000 barrels a day.

Iraq may change the benchmark but keep timing for lifting oil at a one-month gap.

Saudi Arabia has moved back up a notch in the race to supply oil to China and compete for market share in Asia’s biggest crude consumer.

Mr. Zangeneh is a very capable person and a source of pride for the establishment on the world oil stage.

The country'.s main export grade. marketed as Iran Heavy. gained 42 cents to reach $49.35 per barrel. matching its 2017 average.

OPEC will discuss at a meeting in November whether to extend or end production cuts.