Tag Archives: International News Agency

U.S. sanctions on Iran could push oil prices up to $90 per barrel later this year.

Currently. oil product exports are taxed on the basis of a percentage of the crude oil export duty. which is tied to the price of oil.

The word out of Washington is that the United States is no longer looking at sanctioning Venezuela’s oil industry.

Iraq has no option to export Kirkuk crude from the north of the country due to a political dispute with KRG.

India. like Turkey. has previously said it only complies with sanctions imposed by the United Nations. not those issued by individual nations.

Russia exports up to 500.000 b d of oil. products to the U.S.

Many countries. including US allies in Europe as well as China and India oppose the introduction of new sanctions.

In 2017. Japan met 5.3 percent of its oil demand with imports from Middle Eastern nations.

Eastern Canadian refineries import about 75.000 to 80.000 barrels per day of Saudi Arabian crude.

Russia produced 11.22 million b d in July. basically erasing its 300.000 b d pledged cut.