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The US ultimatum has also contributed to upward pressure on world oil prices.
Read More »US Determined to Cut Iran Oil Exports to Zero
Thanks to Rising Oil Prices. Saudi Economy Grows 1.15% in the First Quarter
Oil prices have been steadily rising since early 2016. when OPEC and non-OPEC producers struck a deal to cut output.
Read More »Libya’s NOC Declares Force Majeure on Loading at Eastern Ports
The move would cause an output loss of 350.000 barrels per day.
Read More »Masdar. Equinor have Installed World-First Battery Facility
The project is Masdar'.s second offshore wind partnership with Equinor.
Read More »OPEC Struggles to Ease Oil Supply Cuts
Real increase would be smaller than the nominal gain of 1 million bpd. meaning a compromise with Iran remained possible.
Read More »OPEC Nears Compromise on Oil Output Deal Ahead of Key Vienna Meeting
Most of the shortfall has come from Venezuela. where an economic crisis has savaged the nation’s petroleum production.
Read More »Iran may Accept OPEC Oil Production Increase with Conditions
The condition means no other country has the right to compensate for another country’s oil production decrease.
Read More »Saudi Arabian and Russian Oil Market Policy to Dominate OPEC summit in Vienna
GCC countries are thinking about the need to replace lost Iranian barrels.
Read More »Russia has Potential for Increasing Oil Output within Months
Russian Energy Minister Alexander Novak said that returning to oil production levels of October 2016 is one of the options for the future of the OPEC+ deal.
Read More »Falih Visits South Korea’s Atomic Energy Research Institute
Saudi Arabia has received requests for information from five countries — South Korea. China. US. France and Russia — to build two nuclear reactors.
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