Iran’s $7bn battle: Tanker seizure ‘slap in the face’ to South Korea
Iran’s capture of a South Korean-flagged tanker at sea last week has been described by the US as extortion. But Tehran says it is Seoul that is the hostage taker Continue Reading
UAE Oil Takes Center Stage In U.S. Pushback Against China
Abu Dhabi – the oil powerhouse at the centre of the U.S.’s pushback against increasing Chinese influence across the Middle East – last week further cemented this alliance with a Continue Reading
Iran Refuses To Negotiate Korean Fuel Tanker Release
Iran has signaled it has no intention to negotiate the release of the South Koran fuel tanker that the Iranian military seized earlier this week in the Strait of Hormuz. Continue Reading
IRAQ DATA: Dec oil production up 4.7%, breaching OPEC+ quota
Iraq’s December oil production, including from the semi-autonomous Kurdistan region, rose 4.7% month on month to 3.857 million b/d, to be above the country’s OPEC+ quota, data from the State Continue Reading
Iranian leader Khamenei bans imports of U.S., British COVID-19 vaccines
Supreme Leader Ayatollah Ali Khamenei banned Iran’s government on Friday from importing COVID-19 vaccines from the United States and Britain. “Imports of U.S. and British vaccines into the country are Continue Reading
Saudis Raise Asia and U.S. Oil Prices After Shock Output Cut
Saudi Arabia raised pricing for oil customers in Asia and the U.S. after its shock move this week to cut output sent crude prices climbing. A day after its unilateral Continue Reading
U.S. Imports No Saudi Crude Oil for First Time in 35 Years
The U.S. didn’t import any Saudi crude last week for the first time in 35 years, a reversal from just months ago when the Kingdom threatened to upend the American Continue Reading
Crude Oil Flow From Saudi Arabia To U.S. Falls To Zero
For the first time in 35 years, no oil flowed from Saudi Arabia to the United States last week, according to EIA data, in a show that the United States—at Continue Reading
Iran: U.S. Owes Tehran $70B In Damages For Missed Oil Revenues
Iran claims that the U.S. should pay Tehran as much as US$70 billion as compensation for lost oil revenues due to the U.S. sanctions, as a prerequisite for a return Continue Reading
Goldman Sachs: Here’s What’s Behind Saudi’s Shocking Production Cut Decision
The first monthly OPEC+ meeting to decide on the group’s production ended with an unexpected, in fact shocking two-month agreement: Saudi announced an unexpected and unilateral production cut of 1 Continue Reading