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Libyan crude has been seen as an additional alternative to Iranian supplies.

Egypt is becoming an important gas and electricity hub that can provide energy security for the EU.

The country’s refining capacity is currently at more than 700.000 barrels a day.

OPEC. Russia and other non-members agreed in June to return to 100 per cent compliance with oil output cuts that began in January 2017.

Iran has discussed trade in national currencies with Russia and Turkey in order to reduce the impact of U.S. dollar.

Aramco raised pricing on all grades to Northwest Europe and the Mediterranean region for October.

US crude oil imports averaged 7.7 million b d. up by 229.000 b d from the previous week.

The second-largest production increase came from Iraq and the United Arab Emirates.

Egypt has been importing liquefied natural gas over the past years.

Saudi Arabia still wants to keep oil prices as high as possible without offending Washington.