Oil,

U.S. Sanctions Have Crippled Iranian Oil Production

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By Tsvetana Paraskova – Mar 10, 2020, 5:00 PM CDT Join Our Community The U.S. sanctions on Iran’s oil sector are impacting the Islamic Republic’s ability to potentially increase production in the long term if the U.S.-Iran tensions subside and sanctions ease. Iran relies 100 percent on imports for oil rig equipment, but the sanctions have stifled […]

Saudi Arabia denies plans to wage price war with Russia on oil market

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Russia is still a very important partner for Riyadh and a most important player on the energy market, a source in OPEC familiar with the plans of the Saudi authorities told © Egor Aleev/TASS MOSCOW, March 9. /TASS/. Saudi Arabia has not launched a price war against Russia and considers Moscow an important partner on […]

US Goes After Iran’s Floating Oil US Goes After Iran’s Floating Oil Storage

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By Julianne Geiger – Mar 09, 2020, 6:30 PM CDT Washington has plans to issue warnings to oil shippers, insurers, and port authorities that storing Iranian crude oil will bring the wrath of US sanctions, a US State Department official said on Monday, according to Reuters. The US will target those who store Iranian oil or oil products […]

Saudi Arabia Starts Oil Price War Amid Concern about Virus’ Impact

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03/09/2020 Saudi Arabia slashed its official selling prices for oil over the weekend over worry about the impact of the coronavirus, starting a price war that has seen world oil prices plummet on Monday by around 30%. Brent crude futures, at $33.04 a barrel by 5:52 am GMT, were down 27%., and had earlier dropped […]