Tag Archives: Oil Price

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

Washington had been pushing governments to cut imports of Iranian oil to zero.

Russia has for years been cooperating with OPEC. helping to engineer a rebound after a 2014 oil price slump.

Oil price hit their low for the year Friday as U.S. production continued to grow.

Thanks to shale. US oil production surged to a record level of 11.6 million barrels per day earlier this month.

Iran is OPEC’s third-largest producer. providing more than 2 percent of global oil output.

As oil prices have headed south. Saudi Arabia said it would cut exports by 500.000 bopd next month.

Reduced Saudi oil imports tend to reflect in lower weekly U.S. inventories.

Saudi Arabia’s in a more precarious position for this upcoming OPEC meeting.

Other Chinese oil companies are also gearing up for the winter season.