Iraq military bases: US pulling out of three key sites
Al-Qaim is in a flashpoint area along the Iraq-Syria border The US army is pulling out of al-Qaim and two other key military bases in Iraq in the coming weeks. Continue Reading
Supertanker Rates Soar 678% As Saudi Arabia Floods The Oil Market
As Saudi Arabia and Russia began an all-out oil price war for market share, the shipping industry is going through a supertanker run and charter rates for very large crude Continue Reading
Azerbaijani Economy At Stake As Oil Prices Plummet
Demand for dollars has spiked in Azerbaijan amid fears of another currency devaluation following a plunge in oil prices. A feud between Saudi Arabia and Russia led to a sharp Continue Reading
Libya’s NOC says Eastern Libya ‘illegally’ imported jet fuel from UAE
Libya’s state-owned National Oil Corporation, or NOC, said on Monday that the eastern region of the country ‘illegally’ imported an aviation fuel shipment from the UAE in violation of UN Continue Reading
Saudi Aramco says can maintain 12 million b/d crude output for a year without new capex
Saudi Aramco can pump crude at its maximum 12 million b/d capacity for a year without any new investment, its CEO said Monday, as the world’s largest oil producer girds Continue Reading
Iran has temporarily freed 85,000 prisoners, including political ones, amid coronavirus
Iran has temporarily freed about 85,000 prisoners, including political prisoners, a spokesman for its judiciary said on Tuesday, in response to the coronavirus epidemic. “Some 50% of those released are Continue Reading
Saudi Aramco Is ‘’Very Comfortable’’ With $30 Oil
Saudi Arabia will continue to pump oil at increased levels through May, Saudi Aramco Chief Executive Amin Nasser said on Monday during an earnings call, according to Reuters. Nasser added Continue Reading
Africa, Latin America Brace as Coronavirus Threatens Weaker Health Systems
The coronavirus has overwhelmed health-care systems in a number of highly developed nations. Now, it is spreading to some of the world’s most vulnerable countries, with health officials in Africa Continue Reading
Asian Oil Buyers Look For Smaller Ships As Supertanker Rates Explode
Asian refiners are increasingly looking to book smaller tankers to load oil from the Middle East as the freight costs for chartering supertankers have surged after Saudi Arabia pledged to Continue Reading
Goldman Sees China’s Economy Slumping 9% in First Quarter
China’s economy is set to post a 9% plunge in the first quarter from a year earlier, according to the latest forecast from Goldman Sachs Group Inc. A day after retail Continue Reading