OPEC oil output climbs in June as Saudi opens taps: Reuters survey
OPEC oil output rose last month as Saudi Arabia pumped at a near-record rate, a Reuters survey found on Monday, a sign the world’s top exporter is heeding calls from Continue Reading
U.S. says global oil capacity enough to make up for Iran cutbacks
The United States aims to reduce Tehran’s oil revenue to zero in an effort to force the Iranian leadership to change its behavior in the region and believes there is Continue Reading
Saudi, US raise pressure on Iran with OPEC deal
Iran says Riyadh and Washington are ‘ridiculing’ OPEC as Saudi Arabia’s modest output pledge turns into massive jump. Saudi Arabia’s Oil Minister Khalid al-Falih. LONDON – Iran may be Russia’s Continue Reading
Spooked by Trump, Europe’s Iranian oil purchases set to plummet
European refiners are cutting purchases of Iranian oil faster than expected as the U.S. prepares to reimpose sanctions on Iran, threatening a more severe impact than the last round of Continue Reading
Rouhani says U.S. pressure to stop Iranian oil may impact regional exports
DUBAI (Reuters) – Iran’s President Hassan Rouhani said regional oil exports may be threatened if the United States tries to pressure clients to stop buying Iranian crude oil, a new Continue Reading
India Folds Under Pressure, Halts Iranian Oil Imports
In more dour news for Iran, India (the world’s fourth largest oil importer) is planning to cut oil imports from the embattled OPEC member. India’s oil ministry has asked refiners Continue Reading
India Has Back-Up Plans In Case Of Complete Iranian Oil Cut-off
Indian refiners are preparing for any scenario in case they won’t be able to import any Iranian crude oil as the United States steps up pressure on countries to bring Continue Reading
Libya’s latest power struggle raises oil market stakes
Libya is mired in a fresh struggle over control of its crude exports after a major rift opened up this week between the Tripoli-based and UN-backed National Oil Corporation and Continue Reading
Libyan oil production nearly ground to a halt
A Libyan company said oil production was cut Monday by 850,000 barrels per day because operations at two oil terminals were suspended over control disputes. The Libyan National Oil Corp. Continue Reading
World Bank Backs Egypt To Become Regional Oil, Gas Trading Hub
The World Bank supports Egypt’s efforts to be a regional oil and gas trading hub, as several new gas projects started up recently in the Mediterranean country, the Egyptian Ministry Continue Reading