OPEC Boosts Oil Production In August

OPEC Boosts Oil Production In August

OPEC’s crude oil production rose in August compared to July, another market survey found on Friday, despite OPEC’s continued calls for sticking to the cuts to achieve “market stability.”

India Weighs Selling Government Stake In Bharat Petroleum

India Weighs Selling Government Stake In Bharat Petroleum

India’s government plans to sell its entire more than 50-percent stake in one of the largest local refiners, Bharat Petroleum Corporation (BPCL), most likely to state-controlled Indian Oil Corporation, Indian outlet Business Standard reported on Monday.

OPEC Oil Production Drops To Eight-Year Low

OPEC Oil Production Drops To Eight-Year Low

Deeper production cuts at leading producer Saudi Arabia, lower output at sanctions-hit Iran, and outages in Libya and Venezuela sent OPEC’s crude oil production in July falling to its lowest level since 2011, the monthly Reuters survey found.

Oil Will Go ‘’Bust’’ If Recession Hits

Oil Will Go ‘’Bust’’ If Recession Hits

An unexpected increase in inventories underscored the downside risk to oil prices. The EIA reported a drawdown in crude stocks, but a huge 9.25 million barrel combined increase in gasoline and diesel inventorie

Iran’s Tactical Move To Skirt Sanctions

Iran’s Tactical Move To Skirt Sanctions

Facing vigorously enforced U.S. sanctions directed principally on oil, Iran is focussing on the less targeted strategic areas in its hydrocarbons business, notably continuing to develop its gas sector and building out its petchems and related capacity.

Saudis Raise Oil Prices To Asia As Demand Spikes

Saudis Raise Oil Prices To Asia As Demand Spikes

Emboldened by strong prompt demand amid tighter oil supply due to the U.S. sanctions on Venezuela and Iran, the world’s top oil exporter Saudi Arabia is expected to raise the prices of the crude grades it sells on its premium market, Asia, for July, trade sources told Reuters on Thursday.

Iran’s Master Plan To Beat U.S. Sanctions

Iran’s Master Plan To Beat U.S. Sanctions

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.

Venezuela Keeps Oil Exports Stable In April

Venezuela Keeps Oil Exports Stable In April

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.

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