“Что особо важно: мы договорились постоянно мониторить ситуацию. Если появятся какие-либо угрозы для рынка, мы в любой момент можем собраться и решить, что необходимо делать. При угрозе дефицита, к примеру, мы можем вынести решение об увеличении производства”, - подчеркнул Александр Новак.

The June shipments included 3.39 million b/d from Gulf terminals, 105,000 b/d from Kirkuk through the Ceyhan terminal and 25,000 b/d of heavy Qayara oil transported by truck to the southern port of Um Qasr.

In view of the current fundamentals and the consensus view on the outlook for the remainder of 2019, the Conference decided to extend the voluntary production adjustments agreed at the 175th Meeting of the OPEC Conference for an additional period of nine months from 01 July 2019 to 31 March 2020.

Once again, Iran has been exempted from the OPEC output cut deal, Zangeneh told the reporters.

OPEC and its allies led by Russia have been reducing oil output since 2017 to prevent prices from sliding amid soaring production from the United States, which has become the world’s top producer this year ahead of Russia and Saudi Arabia.

Russian President Vladimir Putin struck a deal with Saudi Crown Prince Mohammed Bin Salman to extend the OPEC+ agreement at current production levels for the rest of this year and potentially into early 2020.

Emirates Water and Electricity Company (EWEC), a leading company in the coordination of planning, purchasing and providing of water and electricity across the UAE, has announced that ‘Noor Abu Dhabi’, the world’s largest single solar project, with a capacity of 1,177MW, has started commercial operation.

The countries signed an $8.3 billion economic cooperation pact that included a $6 billion deal between Saudi Aramco and the Korean company S-Oil to build an oil refinery and downstream petrochemical facilities in South Korea.

A gradual economic recovery is underway. Recent increases in wages, pensions, and social assistance; and measures to reduce tax and debt burdens are expected to boost nonoil growth to 2.7 percent over the near term.

China imported 1.08 million mt, or 255,065 b/d, of crude oil from Iran in May, down 66.7% from the five-year high of 3.24 million mt in April as the US' sanction waivers for Iranian oil expired on May 2.

“What’s happening in the Gulf is definitely a concern,” Amin Nasser, president and chief executive of Aramco, told Reuters in an interview in Seoul.

the United States had never targeted an Iranian head of state before and that was a sign Trump was getting personal.

U.S. President Donald Trump said on Monday that other countries, including China and Japan, should protect their own oil tankers in the Middle East.

“Today, more than ever, international cooperation is important,” Novak said in a speech at an energy forum in the Russian city of St Petersburg.

Iran and Russia already have a deal whereby Iran sells 100,000 b/d of crude oil to Russia and receives 50% of the value in cash and 50% in equipment.