Tag Archives: Organization of the Petroleum Exporting Countries (OPEC)

Over a decade. oil-for-loan agreements helped China secure energy supplies for its fast-growing economy.

Trump’s efforts to cut Iran’s access to the global crude market has prompted Russia and Saudi Arabia to take the market hostage.

Saudi Arabia lifted output by 70.000 bpd to 10.42 MMbpd last month.

The US is attempting to bring Iran’s oil sales to zero by imposing banking and transportation restrictions.

Buyers who defy the US sanctions risk having their banks frozen out of the American financial system.

Oil traders are looking at the evolution of the category 4 Hurricane Florence. which is expected to make landfall in the USA coast by Friday.

Despite the lower purchases. Iran remained the third biggest oil supplier to India in August.

Iran’s key customers in Asia—no.1 China and no.2 India—are not expected to cut off their imports of Iranian oil.

Russia could raise output by 300.000 bpd.

Libyan crude has been seen as an additional alternative to Iranian supplies.