Iran looks to begin as soon as next month crude oil exports from the Jask terminal on the Sea of Oman, without the need to have tankers travel through the Strait of Hormuz, a top industry official said on Wednesday.
Oil prices pressed higher Monday after strikes on major oil facilities in Saudi Arabia, the world’s largest oil exporter, shook energy markets already rattled by a decision by oil producers last week to not lift output.
Saudi Arabia has halted the provision of oil on loan for Pakistan after the Imran Khan government threatened to split the Organization of Islamic Cooperation (OIC) over latters inaction on Kashmir
Iran has successfully retaken an oil tanker wanted by the United States for allegedly skirting sanctions on the Islamic Republic
India is in advanced talks to store its crude oil in US strategic petroleum reserves as an insurance against any supply disruption or price spikes, Oil Minister Dharmendra Pradhan said on Friday.
On Sunday, The New York Times reported Iran and China were nearing the conclusion of strategic partnership in defiance of the US, saying the deal foresees “a sweeping economic and security partnership.”
Oil prices fell on Monday on signs that worldwide oil storage is filling rapidly, raising concerns that production cuts will not be fast enough to catch up with the collapse in demand from the coronavirus pandemic.
Stock markets around the world fell on Tuesday, as oil prices hit a two-decade low a day after some US crude oil futures turned negative for the first time ever,
Equity benchmark Sensex plunged over 1,000 points in opening trade on Tuesday tracking heavy losses in banking, energy and IT stocks amid volatility in global market
With prices falling sharply, a lot of small independent Oil producers in the US are on the brink of bankruptcy now. This OPEC plus deal had given them some hope, but now it seems even that slight sliver of hope has dwindled away
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