Social and Events

OPEC members and independent producers will meet in the Austrian capital. Vienna. on 22 June to discuss a future production policy.

There is statistical evidence that storage is now managed more conservatively than in the past.

Iran is negotiating with Russia’s Gazprom Company for the development of Azar and Changooleh oilfields shared between Iran and Iraq.

China on Friday said it would retaliate by slapping duties on American export products. including crude oil.

All crude oil imports into China are currently exempt from tariffs.

South Korea’s Iranian crude oil imports fell in May to their lowest since January.

Russia and Saudi Arabia planned to sign a mutual agreement which will draw their cooperation in the energy arena to a new level.

There is no immediate reason to expect lower crude oil demand growth in China and India.

Many nations have gone further than their pledged cuts.

OPEC on Tuesday said that the oil market outlook in the second-half of 2018 is highly uncertain and warned of downside risks to demand.