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Saudi Aramco is still in discussions to buy a stake in petrochemicals company Saudi Basic Industries Corp. (Sabic).

The value of exports to African nations stood at about $752 million last year.

The Technical Committee held the meeting on the verge of the Joint Ministerial Monitoring Committee meeting in Abu Dhabi this Sunday.

The oil market could tip into a shortage in the 2020s because nobody is allowed to fully invest in future oil production.

OPEC member Venezuela last year produced more than 2 million bpd.

South Korea has been granted a waiver from US sanctions on Iranian oil.

The most crucial difference between Goldman and some other forecasters is the confidence in emerging market demand.

The US sanctions were re-imposed on Tehran following the withdrawal of the United States from the Iran nuclear deal in May.

The U.S. government has agreed to let eight countries keep buying Iranian oil after it reimposes sanctions on Tehran from next week.

Fears of a global economic slowdown could be behind the rare move.