Tag Archives: Arab News

China has traditionally played a small role in Middle East conflicts or diplomacy despite its reliance on regional oil.

The strong increase in oil and gas production helped BP to offset weaker crude prices and refining profit.

India imports more than 80% of its oil and around two-thirds of that comes from the Middle East.

It is always hard to predict the future and a lot will depend on how the global economy will perform.

The demand for OPEC crude oil in early 2020 could fall to only 28 million bpd.

Turkey’s first drilling vessel. Fatih. has already started searching for gas and oil in waters considered part of Cyprus’s exclusive economic zone.

Algeria had floated an idea of deepening the cut by some 600.000 barrels per day.

Japan is the world’s fourth-largest consumer of oil — after the US. China and India.

The Kingdom is closely monitoring recent developments in the oil market.

OPEC and its allies including Russia are scheduled to meet on June 25-26.