Tag Archives: Reuters International News Agency

Venezuelan crude exports to the United States last year fell 15 percent to the lowest annual average in nearly three decades.

The rise in prices thanks to output cuts has brought roughly an additional $110 billion in revenues to Russia.

The oil was found at a depth of 3.570 metres in an exploratory well and is very light and sweet.

Aramco is a major gas player but much of its production is used domestically.

On Monday. China reported its lowest annual economic growth since 1990.

After China. South Korea. India and Turkey. Japan also started the process of importing Iranian oil.

Russia will attempt to do so as quickly as possible.

The WEF’s annual gathering of political and business leaders is due to take place from Jan. 23 to 26 in the Swiss ski resort.

Germany and Russia have been at odds since Moscow annexed Crimea from Ukraine in 2014.

Both crude price benchmarks had already gained more than 2 percent in the previous session.