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The US ultimatum has also contributed to upward pressure on world oil prices.
Read More »US Determined to Cut Iran Oil Exports to Zero
Algeria to Raise Oil Output by August
OPEC and non-OPEC countries decided in late 2016 to cut output by 1.8 million barrels per day to boost oil prices.
Read More »Algeria Warns Saudi Arabia. Russia against Increasing Oil Output
Moscow and Riyadh recently announced their desire to pump more oil after a relative hike in prices.
Read More »Oil-Importing Nations Need a Cartel to Counter OPEC
The U.S. is unlikely to join with China and India. though it should.
Read More »Saudi Arabia Ready to Pump more Oil to Balance Market
The statement said the kingdom will coordinate with other producers.
Read More »Saudi. Russia Reaffirm OPEC Deal of MM-bbl Oil Boost
The terms of the agreement reached last month were ambiguous.
Read More »Abu Dhabi could Raise Output Capacity by 200.000 bpd in 2018
The UAE'.s state oil producer and energy ministry pledged to help OPEC and allies meet any market shortages this year.
Read More »Oil Falls Amid Rising Saudi Output. Asian Economic Slowdown
Trump warned close U.S. allies in an interview that aired on Sunday with a threat to sanction European companies that do business with Iran.
Read More »Trump Warns European Companies against Iran Ties
Rising gasoline prices could create a political headache for Trump ahead of the November elections.
Read More »Kuwait Considers Hike in Oil Output
Kuwait will raise its oil production by 85.000 bopd as part of a recently reached OPEC agreement.
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