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The two vessels have been designed in Finland. and European equipment suppliers account for roughly 60 percent of all vessel systems.

OPEC and its non-OPEC allies will gather in Algeria over the weekend to review compliance with existing cuts.

Seeking to reverse a downturn in oil prices that began in 2014. OPEC. Russia and other allies decided in late 2016 to reduce supply.

At the last OPEC meeting in Vienna. the agreement was extended again until the end of 2018.

Crude prices were under pressure after the US announced a fresh round of tariffs on $200 billion worth of Chinese goods Monday.

Japanese oil distributors are set to halt oil imports from Iran in light of the U.S. request.

Venezuela. which pumped 1.22 million b d in August. could see output fall to 1 million b d in 2019.

China remains Dubai’s top trading partner in 2017 with $48 billion in non-oil bilateral trade.

Trade between Turkey and Iraq has been interrupted many times due to problems in Northern Iraq with the Kurdistan Regional Government (KRG).

Iran’s key customers in Asia—no.1 China and no.2 India—are not expected to cut off their imports of Iranian oil.