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Iran Vows To Thwart US Sanctions By Allowing Private Sector To Export Oil

JUL 2, 2018 (BE2C2): Iran will allow private companies to export crude oil, part of a strategy to counter US sanctions, and is urging fellow OPEC members, including regional rival Saudi Arabia, not to break output agreements, state media and officials said on Sunday. Iran is looking at ways to keep exporting oil as well as other measures to counter sanctions after the United States told allies to cut all imports of Iranian oil from November — America’s defense and strategic partner India was told last week by its AmbassadorRead More


Trillions of Dollars in Investments Needed in Oil, Says OPEC

The required global oil sector investment in OPEC’s World Oil Outlook is estimated to be $10.5 trillion JUN 22. 2018: Given the pace of global economic development, oil demand is strong, but major investments are needed to keep up, the president of OPEC said Friday. Ministers from the Organization of Petroleum Exporting Countries wrap up regular meetings in Vienna on Saturday. Early Friday, ministers agreed to put more barrels on the market daily to offset shortages from members like Venezuela. Speaking at the start of Friday’s summit, Emirati Energy MinisterRead More


Rough Ride Ahead For Crude Oil

SYED RASHID HUSAIN (May 21, 2018) – Crude markets are entering an absorbing phase. Prices continue to hover around $80 a barrel, amid indications that prices could soar further. Yet, concerns about oil markets persist. Eminent energy analyst Daniel Yergin, once described by the then Aramco chief Khaled Al-Faleh and the current Saudi energy czar, as the rock star of the energy world, is of the view that oil prices may continue to rally past its 3½-year highs, all the way to $85 a barrel, as soon as July. “WeRead More