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Both sides stressed the importance of the need to intensify mutual visits.

Among the major oil and gas-producing states. Texas saw the largest gain with an increase of 3 units to a total of 525 rigs working.

Final oil trade data for July will be released later this month by state-run Korea National Oil Corp.

ADL will implement the project in cooperation with its Austrian and Swiss partners.

The European Union had earlier vowed resist US sanctions on Tehran.

Iran’s non-oil trade with other countries registered a $271 million positive balance and non-oil exports also increased 14.69 percent.

Venezuela. like most oil producing countries. has for decades subsidized fuel as a benefit to consumers.

The JMMC is chaired by Saudi Arabia and is due to meet next on Sept. 23 in Algeria.

The OPEC remains positive on the overall oil demand.

Much will depend on the European Union. which has vowed to resist US sanctions on Iran.