Market Update: Venezuela Abandons US Dollar in Oil Trade
Venezuela is no longer receiving or sending payments in US dollars in response to the sanctions imposed by the …
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The US Refinery Capacity Hit by Hurricane Harvey
Gasoline prices went up in the United States after Hurricane Harvey knocked out refining operations and traders gauged damage …
OPEC’s Output Freeze Starts to Be Working as Consumptions Rises
OPEC predicts higher demand for its crude oil in 2018 in response to increasing global consumption. The cartel also …
India Curbs Iranian Oil Imports Making Iraq Win
India has been curbing imports of crude oil from Iran as part of the efforts to reduce imports by …
Libya’s Rising Output Disturbing OPEC’s Attempts to Tame Supply
Output from Libya’s largest oil field Sharara has returned back to normal after it was disrupted by riots and …
Market Update: Libya Adds More Oil Challenging OPEC’s Output Freeze
OPEC oil production went up in July by 90,000 barrels per day (bpd) to a 2017 high, driven by …
Mexico Has ‘World Class’ Oil Discovery Of More Than 1 Bn Barrels
The energy companies Premier Oil, Talos Energy and Sierra Oil & Gas announced a potentially huge new oil discovery …
Donald Trump Approves Oil Drilling and Exploration Offshore Alaska
The US President Donald Trump has approved a drilling plan for oil exploration offshore Alaska. Eni US, a unit …
Morocco Deepens Cooperation with IEA on Energy Security and Efficiency
Morocco signed a three-year joint program of work with the International Energy Agency (IEA) to deepen bilateral cooperation in …
China’s CNPC Suspends Fuel Shippings to North Korea
China National Petroleum Corp (CNPC) has frozen its sales of fuels to North Korea, fearing that it will not …