Tag Archives: Sanctions

The Europe is reliant on oil imports for 98 percent of demand.

OPEC oil output rose last month to a 2018 high as Libyan production recovered and Iraq’s southern exports hit a record.

Iran is also awaiting European guarantees on the sale of Iranian oil and banking relations.

Uniper will remain one of the financing partners of this project.

U.S. prices have been supported by a drop in crude inventories.

U.S. crude oil production in 2018 is expected to rise 1.31 million barrels per day.

The biggest increase in supplies this month has come from Libya. whose output remains volatile due to unrest.

As the US sanctions on Iran'.s oil are booming. Washington sent two officials to satisfy China to cut off oil imports from Iran.

Tensions between the U.S. and Iran spiked earlier this year when President Trump pulled the U.S. out of the 2015 Iran nuclear pact.

The International Atomic Energy Agency said Iran has not exceeded uranium enrichment limits.