Oil recovers 1%, but set for biggest weekly loss of 2019
Oil prices recouped around 1% on Friday but were on track for their biggest weekly loss this year after swelling inventories and jitters over an economic slowdown led to big Continue Reading
Oil plummets, on track for biggest weekly drop in 2019
Oil prices plunged on Thursday, losing about 5% as trade tensions dampened the demand outlook, putting the crude benchmarks on course for their biggest daily and weekly falls in six Continue Reading
OPEC Signals Intention to Keep Limits on Oil Supply for All of 2019
Energy ministers from OPEC and its allies met to discuss prices and production cuts, in Jiddah, Saudi Arabia, Sunday, May 19, 2019. The meeting took place as tensions flare in Continue Reading
Iran says it will not surrender even if it is bombed
Iran will not surrender to U.S. pressure and will not abandon its goals even if it is bombed, President Hassan Rouhani said on Thursday, stepping up the war of words Continue Reading
Iran stores more oil on land and at sea as exports slump
Iran’s oil storage on land and at sea is on the rise as U.S. sanctions on exports bite and Tehran battles to keep its aging fields operational and crude flowing, Continue Reading
Baghdad-Kurdistan oil disputes flare up in Parliament
Iraq’s unresolved oil disputes are once again garnering attention from members of Parliament, who are voicing criticism of an informal political deal that has helped increase the federal government’s crude Continue Reading
Somalia: Dispute Over Oil Deposits Raises Somalia-Kenya Tension
The Somali government says it’s not ready to take any action that could threaten its relationship with its neighbor Kenya. The announcement comes amidst simmering tensions over potential offshore oil Continue Reading
India Has Ended All Oil Imports From Iran, But For How Long?
India has officially ended all oil imports from Iran, India’s Ambassador Harsh Vardhan Shringla said on Wednesday, after Prime Minister Narendra Modi has managed to emerge victorious from India’s elections, Continue Reading
U.S. tells large traders to stop jet fuel trade with Venezuela: sources
The United States told some large trading houses this week they should stop trading jet fuel with Venezuela or face sanctions, ratcheting up pressure aimed at removing Venezuelan President Nicolas Continue Reading
Exclusive: Operator of Venezuelan PDVSA’s fleet seeks to detain tankers: document, sources
German shipping firm Bernhard Schulte Shipmanagement (BSM) has moved to legally detain three of Venezuelan PDVSA’s oil tankers to collect on late payments owed to it by the state-run oil Continue Reading