Tag Archives: Oil Market

China is the top buyer of Iranian oil and nearly all its oil payments go through Kunlun Bank.

The meeting decided that the next OPEC and non-OPEC Ministerial Meeting would convene in Vienna. Austria. on December 6. 2019.

Iranian Minister of Petroleum Bijan Zangeneh told reporters ahead of the 176th OPEC meeting in Vienna that the existence of the OPEC was the main issue for Iran in the meeting.

Iranian Parliament Speaker Ali Larijani said that Washington has failed in its attempts to prevent Iran'.s oil sales and its purchase of goods from other countries.

Mr Barkindo was first elected as Secretary General of the bloc in 2016.

OPEC nations are bearing the burden of the market-share loss unevenly.

The deal removed 1.2 million barrels a day of OPEC+ production. helping to send oil prices higher.

China and India are among the world’s top oil consumers while Russia supplies oil to both of those nations.

US crude exports will keep rising as domestic production grows.

A full-fledged war between the US and Iran would immediately affect global crude prices. as the recent escalation of tensions in the Middle East has already shown. as the only question now is how high could crude go.