Tag Archives: Market

OPEC+ account for nearly 49 million of the 84 million bpd of global crude.

The Persian Gulf and then the Strait of Hormuz are the key export routes of Iraqi crude oil from its southern ports.

A senior Iranian lawmaker stressed that despite Washington'.s hype about its bans and pressures on Iran'.s steel industry. the country is still exporting the strategic product rendering the US sanctions obsolete.

Saudi Arabia hopes OPEC and its allies will agree to extend oil production cuts into the second half of the year at a meeting that will probably take place in the first week of July. according to the country’s energy minister.

Iraq’s government is expected to launch a tender to develop the field this year.

The spokesman for the Atomic Energy Organization of Iran says the country will surpass the uranium stockpile limit set under the nuclear deal from June 27.

OPEC and its allies have been reducing oil output by 1.2 million barrels per day since Jan. 1 to support the market.

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

Higher average oil prices in 2018 pushed up the value of global fossil fuel consumption subsidies back up toward levels last seen in 2014. underscoring the incomplete nature of the pricing reforms undertaken in recent years.

A recent report from the International Data Corporation (IDC) indicated a major shift in the smartphone market in Europe. which has seen drastic growth in the Chinese company’s sales over the course of the last year.