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Analysis suggests demand for global crude oil will rise to 89mn barrels per day by 2030.

Novatek became Russia’s top LNG producer after starting up its plant in the Yamal peninsula almost two years ago.

US shale drillers have run into a series of problems that have resulted in increased scrutiny on their operations.

In 2018 OPEC+ decided to increase output at its mid-year meeting. only to return to production cuts in 2019.

Aramco fully owns three refineries in Saudi Arabia and the Motiva Enterprises LLC plant in the U.S.

The EU issued an official statement urging the sides in the conflict to stop the violence.

Venezuela. plus Iran and Libya. were exempted from making voluntary curbs under the OPEC+ deal.

Surging oil prices over more than a decade helped many Gulf states expand aggressively at home and abroad.

At the current price of USD 70 per barrel. the annual value of global oil output is USD 2.5 trillion.

Iran is exempt from oil-output cuts following Trump’s decision to re-impose sanctions on the country last year.