Tag Archives: Sanctions

The hostile actions of the United States against Iran nullified any possibility of talks between Iran and that country.

Kuwait has long planned to increase its global capacity to produce oil and gas.

Iran is now offering to insure oil cargoes to India after some insurers stopped providing the service in the face of the impending sanctions.

OPEC hiked production by 70.000 barrels per day (bpd) to 32.64 million bpd. the most this year.

Erdogan confirmed on July 25th that its country will not take part in sanctions against Iran.

OPEC’s crude oil production rose by 70.000 bpd from June to stand at 32.64 million bpd in July.

Iran exports a wide range of oil products to Ghana including tar and various kinds of industrial oil.

The limits will go into effect as the U.S. prepares to reimpose sanctions on Iran beginning Nov. 4.

If India does not import crude from the US. the most likely fallout will be to buy from other OPEC countries.

The loss of Iran could pull millions of barrels off the market at a time when spare capacity is at a premium.