Tag Archives: Sanctions

Last year. ahead of the return of U.S. sanctions against Iran. there was speculation that Washington could use crude oil from the U.S. Strategic Petroleum Reserve to cushion the blow.

OPEC’s oil production dropped to a 2015 low of 30.17 million bpd in May.

U.S. West Texas Intermediate and international-benchmark Brent crude oil futures are trading lower on Friday amid an escalation of geopolitical events

OPEC and its allies including Russia are scheduled to meet on June 25-26.

China. the top buyer of Iranian oil. dismissed Washington’s warning to Hong Kong that it could face penalties if it provides services to a vessel carrying Iranian oil headed for the autonomous territory.

From Russia to Saudi Arabia. Iran to Venezuela. the list of crude oil supplies being curtailed or disrupted around the world is growing longer by the month.

Turkey is among criticizers of US sanctions on Iranian oil exports.

China is mobilizing its vast state-run energy industry to prepare for an economic tussle with the U.S. that could escalate further and might last for years.

Holding negotiations only makes sense when the other side is committed to its obligations.

Gulf states have a joint defense force under the Gulf Cooperation Council (GCC).