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

Iran is one of the world’s largest oil producing countries.

During the last round of sanctions. Iran'.s oil supplies fell by around 1 million barrels per day (bpd).

Ahead of official numbers. API data shows sizable declines in US crude inventories.

After the last round of sanctions were announced in 2011. Saudi Arabia boosted its production.

The U.S. move threatens Iran with lower export income and less access to hard currency.

Traders are also nervously awaiting Trump'.s decision on whether or not to continue with the Iran nuclear deal. which he has in the past derided.

Iran appears to be ramping up its oil exports ahead of the likely sanctions.

Reasonable oil prices would ``encourage producers to keep supply while it would prevent global markets from plunging into instability.

Despite the price adjustment. sour is still higher on the year.

World oil prices have increased after the trades held on Friday at the leading oil exchanges.