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Oil has rebounded to over $70 a barrel. after prices crashed to as low as $26 in January 2016.

According to the agreement. Iran scaled back its nuclear activities in exchange for termination of economic and financial sanctions.

Libya. holder of Africa’s largest crude reserves and an OPEC member. is already reeling from political divisions.

MENA is expected to achieve economic growth of 3.1% in 2018.

Approximately 60 percent of Kuwaiti consumption of natural gas is used for the refining and petrochemical sector.

The United States has taken a series of recent measures against Russia.

OPEC and other suppliers including Russia will discuss continuing the global production limits beyond the end of the year.

Qatar is the world’s lowest cost major producer of LNG.

New sanctions on Monday would be the third round enacted by the Trump administration against Russia in the past four weeks.

Natural gas shortages this winter caused chaos. cutting off supplies to industrial users and causing big spikes in prices.