Oil prices rallied by about 3 percent on Monday to their highest since late 2018 as the United States was set to announce that all imports of Iranian oil must end or be subject to sanctions.
"Cooperation will continue between Russia and Saudi Arabia," Ibrahim al-Muhanna said at the International Oil Summit in Paris, stressing that "it is the core of OPEC+ cooperation."
Russian oil production was around 11.24 million barrels per day (bpd) between April 1 and April 18,
Boosting heavy crude output is a major part of the country's 2040 oil production strategy. Kuwait plans to increase overall oil production capacity to 4.75mbpd by 2040, up from its current capacity of 3.15mbpd.
BP and partners have sanctioned the Azeri Central East (ACE) project, the next stage of development of the giant Azeri-Chirag-Deepwater Gunashli (ACG) oilfield complex in the Azerbaijan sector of the Caspian Sea.
ConocoPhillips's gas-focused North Sea assets pumped 72,000 b/d of oil equivalent last year, and the acquisition will help boost Chrysaor's total production this year to over 185,000 boe/d, Chrysaor said in a statement.
Oil futures edged up on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices.
the U.S. sustained its position as the world’s leading oil producer, continuing a pace of 12.1 million barrels a day (mb/d), matching February 2019. In addition, petroleum demand in March was the strongest for that month in more than a decade at 20.7 mb/d.
Since January, Maduro’s administration has been in talks with allies in Moscow about ways to circumvent a ban on clients paying PDVSA in dollars, the sources said. Russia has publicly said the U.S. sanctions are illegal and it would work with Venezuela to weather them.
Alparslan Bayraktar, deputy minister of energy and natural resources, stated that there is great potential for the natural gas market between Turkey and the U.S., in an address at the 37th Annual Conference on Turkey-U.S. Relations organized by the Turkey-U.S. Business Council (TAİK) and the American Turkish Council (ATC) in the U.S. capital Washington, D.C.
Australia's largest gas producer, Woodside, Thursday said LNG production from its three facilities rose 11% year on year in the January-March quarter, and maintained its 2019 production guidance.
The International Monetary Fund (IMF), has forecast the UAE’s nominal Gross Domestic Product (GDP) to grow 4.7 percent to AED1.673 trillion in 2019, compared to AED1.589 trillion a year ago.
the goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January,
Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly.
On BRENT ;The Bulls are still gathering through the 71.72$ price mark. A hold of the 63.45$ price mark indicates a strong bull market in the June WTI Futures market,a fall below creates a range bound trade.