The US is pressing Iran’s oil customers to zero out their imports by November 4 and has no plans to issue sanctions waivers, a strategy that could spark an oil Continue Reading
The U.S. threatened to slap sanctions on countries that don’t cut oil imports from Iran to “zero” by Nov. 4, part of the Trump administration’s push to further isolate Tehran Continue Reading
Oil production the neutral zone between Saudi Arabia and Kuwait has stopped until the parties reach an agreement, Kuwaiti state news agency KUNA reported on Tuesday, citing Kuwait’s Oil Minister Continue Reading
High oil prices hurting fiscal balance, says Pradhan “We will do whatever is needed to maintain market stability and ensure that there are no oil supply shortages”, Saudi Prince and Continue Reading
A floating production facility is slated to start drilling for natural gas off the coast of Israel by early next year, Energean Oil and Gas said Monday. Energean said it Continue Reading
The Iranian rial just hit an all-time low (see chart below). The Islamic Republic of Iran remains in the ever-tightening grip of an economic death spiral. The economy is ever-vulnerable Continue Reading
President Hassan Rouhani promised Iranians on Tuesday the government would be able to handle the economic pressure of new U.S. sanctions, a day after traders massed outside parliament to protest Continue Reading
Iran’s oil minister said that OPEC’s oil output agreement did not specify a production increase and that a figure of 800,000 barrels per day (bpd) was an interpretation by some Continue Reading
Hundreds protested in the Iranian capital on Monday while merchants in the city’s oldest bazaar shut their shops to protest economic woes and a collapsing currency as the U.S. restores Continue Reading
A fresh wave of protests erupted in Iran over the weekend against the plunging value of the local currency and rising prices, in what some observers and analysts describe as Continue Reading
