One key foreign policy goal of the current U.S. government is to initiate regime change in Iran by crippling its economy to such a degree that popular unrest removes the current power structures in the country, particularly the near-omnipresent IRGC.
Despite an escalating situation in Venezuela, oil exports from the country remained perhaps surprisingly stable in April, at an average daily rate of 1.06 million barrels, Reuters reports, citing its own shipping and trading data.
Russia’s biggest oil producer Rosneft doesn’t expect the end of the U.S. sanction waivers for all Iranian oil buyers to lead to a global supply deficit this quarter and next, Rosneft’s chief executive Igor Sechin told Reuters on Friday.
India’s oil imports from Iran increased by some 5 percent between March 2018 and March 2019 compared to the previous fiscal year through March 2018, because Indian refiners rushed to buy Iranian oil before the U.S. sanctions
This week Indian Prime Minister Narendra Modi announced that this administration is working toward establishing a natural gas trading exchange as part of a larger effort to relieve the rapidly developing nation’s reliance on crude oil and its byproducts.
Where some see hardship, others see opportunity. Russia’s most valuable export products are oil and gas of which the top producers are Rosneft and Gazprom, respectively.
Crude oil prices have gone up high enough to begin hurting demand for the commodity, the chief of the International Energy Agency, Fatih Birol, said as quoted by Reuters on the sidelines of an industry event in Singapore.
Oil prices at $80 a barrel are too high and unhealthy for the world today, Bob Dudley, the chief executive of UK supermajor BP, said on the sidelines of an event on Friday.
Saudi Arabia is incapable of offsetting all of Iran’s crude oil supplies, according to the latest oil market message shared by several analysts who spoke to CNBC.
India’s natural gas production is projected to double in the next four years, according to a statement by the country’s oil ministry.