Tag Archives: Oil Market

China is now the world'.s largest oil importer.

Saudi total exports are set to drop to around 7mn bpd in January.

The U.S. has been rapidly cutting into its own net import dependence on crude.

The UAE pumped 3.175 million bpd in October and boosted further its output in November by 71.000 bpd to 3.246 million bpd.

Zanganeh said on Wednesday that the current volatility in the oil market is psychological.

Oil prices climbed by around 1 percent on Wednesday .

Saudi Arabia shouldered most of the production cuts on the OPEC side.

OPEC and its allies agreed to reduce oil production by 1.2 million barrels per day (bpd) for the first six months of 2019.

Oil prices jumped just over four percent as news of the deal broke.

Iran will not take part in any cuts while there are U.S. sanctions on its oil.