Oil slumped over 3% on Friday and posted its biggest monthly drop in six months, after US President Donald Trump stoked global trade tensions by threatening tariffs on Mexico, a key US trade partner and major supplier of crude oil .
News ID: 4726 Publish Date : 2019/06/02
Top oil exporter Saudi Arabia has raised production in May, a Reuters survey found, but not by enough to compensate for lower Iranian exports which collapsed after the United States tightened the screw on Tehran.
News ID: 4713 Publish Date : 2019/06/01
The oil market is expected to be in balance toward the end of 2019, as global inventories fall and demand remains strong, but OPEC’s job is not done yet, Kuwait’s oil minister told Reuters.
News ID: 4675 Publish Date : 2019/05/30
Russia will carefully consider extending its oil output reduction agreement with the Organization of the Petroleum Exporting Countries and other producers, Russian First Deputy Prime Minister Anton Siluanov told Reuters on Wednesday.
News ID: 4674 Publish Date : 2019/05/30
India has officially ended all oil imports from Iran, India’s Ambassador to the United States Harsh Vardhan Shringla said on Wednesday, after Prime Minister Narendra Modi managed to emerge victorious from India’s elections.
News ID: 4659 Publish Date : 2019/05/28
Isfahan Refinery is to build a unit to process its mazut output, managing director of the National Iranian Oil Refining and Distribution Company said.
News ID: 4657 Publish Date : 2019/05/28
A spokesman of the Afghan ministry of oil and gas rejected media reports claiming that the country has stopped crude imports from Iran.
News ID: 4631 Publish Date : 2019/05/23
The United States is increasing its oil imports from Russia, according to a Bloomberg source, as US refineries clamor for more oil now that refineries oil supplies have dried up.
News ID: 4629 Publish Date : 2019/05/23
Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that producer club OPEC will continue to withhold supply this year.
News ID: 4615 Publish Date : 2019/05/22
Oil-to-metals conglomerate Vedanta Ltd said on Tuesday it had been declared the preferred bidder for two copper blocks in the India's western state of Maharashtra.
News ID: 4605 Publish Date : 2019/05/21
Amonth before OPEC and allies are set to discuss the future of their production cut deal, the leader of the non-OPEC group, Russia, appears to have finally fallen in line with its share of the cuts, producing below its OPEC+ quota for the month of May.
News ID: 4589 Publish Date : 2019/05/20
South Korea’s Iranian oil imports rose 17% in April from a year earlier, customs data showed on Wednesday.
News ID: 4571 Publish Date : 2019/05/18
In summer electricity generation reaches its peak in all power plants across the country. However, after the hot season is over, hardly 30% of the power stations operate, the managing director of Mapna Group said.
News ID: 4565 Publish Date : 2019/05/18
South Korea imported 353,000 barrel per day of Iranian crude last month, up 17% on March ahead of the removal of sanction waivers that granted South Korea and another seven countries to legally import certain amounts of Iranian crude despite US sanctions.
News ID: 4564 Publish Date : 2019/05/18
Russia’s crude oil production averaged 11.16 million bpd in the first twelve days of May, Oil Price reported on Tuesday, citing two industry sources, which means that Moscow is finally within its cap under the OPEC+ deal.
News ID: 4563 Publish Date : 2019/05/17
India told Iran on Tuesday it will decide on its oil imports after elections end this month, in line with its economic interests, a government source said.
News ID: 4562 Publish Date : 2019/05/17
OPEC said on Tuesday that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.
News ID: 4559 Publish Date : 2019/05/17
This week global billet market observed limited trades amid ongoing holidays in major countries. The market remained abuzz with news of US sanctions announcement on oil purchasing from Iran.
News ID: 4494 Publish Date : 2019/05/10
Venezuela is in chaos. Iran is grappling with US sanctions. And now there is a surge of violence in Libya. Trouble in these three OPEC nations has helped send US oil prices climbing back above $64 a barrel.
News ID: 4313 Publish Date : 2019/04/11
Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member, four sources said.
News ID: 4290 Publish Date : 2019/04/10
Condolence message of the Minister of Industry, Mining and Trade following the martyrdom of the President of Iran and his delegation
Condolence message from the CEO of Sangan Steel following the martyrdom of Ayatollah Raisi, the President and his companions
Leader declares five days of national mourning over loss of Raisi, FM
Iran president, FM killed in tragic helicopter crash