Tag Archives: Trade

The U.S.-China trade tension restricts oil from rising further.

In the Permian Basin. the US'. most active oil and gas producing area. the rig count fell by one to 483.

Venezuela. which pumped 1.22 million b d in August. could see output fall to 1 million b d in 2019.

Saudi Arabia and Russia led OPEC and allied producers in agreeing to cap output starting in January 2017 to curb a glut.

Most Chinese oilfields can break even with oil at $70 per barrel.

The U.S.. Russia and Saudi Arabia are also working together to make sure the world has access to affordable energy.

This winter could turn out to be a hot one indeed for oil markets.

The Europeans and other signatories must work on compensating the US sanctions.

Saudi Arabia lifted output by 70.000 bpd to 10.42 MMbpd last month.

The US administration pulled out of the landmark 2015 nuclear deal with Iran on May 8.