The second-largest production increase came from Iraq and the United Arab Emirates.
Read More »Saudi Arabia Wants Oil to Stay between $70-$80 A Barrel
Saudi Arabia still wants to keep oil prices as high as possible without offending Washington.
Read More »China`s Slowing Oil Demand is a Concern for the Middle East
Oil prices have stabilized over the last two years largely thanks to a deal between OPEC and non-OPEC oil producers.
Read More »Japan to Suspend Iran Oil Imports under US pressure
Resource-pour Japan relies heavily on imports of oil from the Middle East.
Read More »Talks with Europeans on Nuclear Deal to Continue
France is an important partner of Iran and that Iran has good relations with the European Union members.
Read More »India Allows State Refiners to Use Iran Tankers. Insurance for Oil Imports
The moves by the two top buyers of Iranian crude indicate that Iran may not be fully cut off from global oil markets from November.
Read More »U.S. Sells 11 mil. Barrels of Oil Reserves to Exxon. 5 Others
Sale of the oil from the reserve was mandated by previous laws to fund the federal government and to fund a drug program.
Read More »US Sanctions Harmful for Europe Firms
The Europe is reliant on oil imports for 98 percent of demand.
Read More »Markets are Tighten on Iran-US Tensions
Iran is also awaiting European guarantees on the sale of Iranian oil and banking relations.
Read More »Oil to See Monthly Gain due to Escalating Supply Risks
U.S. prices have been supported by a drop in crude inventories.
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