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Oil exporters in the region have benefited from the improved outlook for oil prices.

Basra is home to Iraq’s biggest oil fields. and their exports make up more than 95 percent of the country’s state revenue.

The risk that current trade tensions escalate further is the greatest near-term threat to global growth.

Analysts Forecast Most Constructive Oil Market in Years.

The meeting will allow OPEC members to discuss ways to maintain oil market stability.

Novak said higher crude prices this year would add 2.5 trillion roubles ($40.14 billion) to state coffers this year.

NOC has lifted force majeure on El Feel oilfield. which was declared on February 23 this year.

Russia is studying all legal issues related to the possible deal.

Demand for OPEC’s crude oil is expected to average 32.2 million bpd in 2019.

Eventually. D. Trump will become hostage of Russia and Saudi Arabia who are hardly interested in low oil prices.