Social and Events

The Iranian government has given Pertamina an early May deadline to seal a deal for developing Iran’s Mansouri oil field.

Russia’s Energy Minister Alexander Novak will retain his post in the new government.

The share of yuan-backed crude oil contracts has soared to 12 percent of global trading since the US withdrawal from the Iran nuclear deal.

The Nord Stream-2 project involves the construction of two lines with a total capacity of 55 billion cubic meters of gas per year.

The level of compliance with the output limit in April made 172%.

U.S. was skeptical whether Russian transit guarantees for other countries such as Ukraine were enforceable.

United States was trying to keep prices inflated in order to support U.S. shale oil growth.

OPEC and several other non-OPEC producers have reached an agreement to extend the production deal for a further nine months.

Global oil prices are currently under the influence of geopolitics.

Turkey will start deep-sea drilling in the Mediterranean this summer.