Since Katrina, one of the most devastating hurricanes in U.was in the third decade of a ban on exports of U.
navy quashes Iranian attempt to block tanker Meanwhile, global demand for OPEC oil looks likely to fall to its lowest in over 16 years as the U.The IEA said demand from the Organization of the Petroleum Exporting Countries in the first quarter of 2020 will fall to 28 million barrels a day.
6% for last week, according to Dow Jones Market data.8% for last week.
The U.imposed sanctions on the Cuban state oil import and export company, alleging they continue to import oil from Venezuela.
The output cuts will help stabilize the market and support prices as trade uncertainties persist.Given the demand concerns, “the only way to firm and stabilize oil is with cuts to production,” says Marc Bruner, CEO of natural-resource firm Fortem Resources.
Middle East|Gibraltar Seizes Syria-Bound Tanker Thought to Be Carrying Iranian OilImageThe Grace 1, a Panama-registered supertanker, on Thursday near Gibraltar.CreditCreditReutersLONDON — The authorities in Gibraltar on Thursday detained a supertanker that they said was carrying crude oil to Syria, a violation of European Union sanctions against Syria.
As part of President Trump’s efforts to rebalance trade relationships, he has imposed tariffs on almost every country around the world.WSJ’s Josh Zumbrun explains where we stand with our largest trading partners.
17 AM ISTReutersA participating interest in foreign oilfields gives Indian companies the ownership of the oil and gas produced from such fields in proportion to their stakes.New Delhi: Oil and gas output from Indian assets overseas is roaring while domestic production is on a decline.
Business|OPEC to Keep Propping Up Oil Prices by Extending Production Cuts Into ’20ImageA natural gas refinery at the South Pars gas field in Asaluyeh, Iran.Without these measures, “you would have seen a collapse in prices,” said Joseph McMonigle, a senior policy analyst at the market research firm Hedgeye.
During his visit, India strongly raised the issue of Pakistan-sponsored terrorism and discussed deepening cooperation in counter-terrorism.58 AM ISTAgenciesModi, who is in Japan for the G20 Summit, met with the Saudi Prince on the margins of the summit after the informal BRICS leaders' meeting.
17 PM ISTAP"For us energy security is important and the importation of oil is important to Chinese energy security and also to the livelihood of the people," said a Chinese minister.Vienna: China said Friday it would import Iranian oil in defiance of US sanctions on Tehran, a day before US and Chinese leaders are to meet to try to resolve thorny trade disputes.
43 AM ISTAgenciesIndian oil companies have already taken the decision not to import more oil from Iran after the US waivers ran out on May 2.The Iranian situation will be a key discussion item on the agenda during talks between US secretary of state Mike Pompeo and his Indian counterpart, S Jaishankar, in New Delhi on Wednesday.
President Trump signed an executive order imposing new sanctions on Iran, including against its supreme leader, saying they would deny Iran and its allies “access to key financial resources and support." Photo: GettyU.
Jun 20, 2019, 07.17 PM ISTGetty ImagesVedanta has already received Petroleum Exploration Licenses (PEL) for 11 of the 41 blocksNEW DELHI: Vedanta has shortlisted Lloyd’s Register for integrated project management of the 41 oil and gas blocks it was awarded under Open Acreage License Policy (OALP), the company said in a statement.
“The biggest catalyst for crude oil prices will be driven by fiscal policy—not monetary policy.” Providing an earlier, but temporary boost to oil prices, the Energy Information Administration reported Wednesday that U.
On to the top business news!Dangerous WatersOil prices ticked up after two tankers were attacked in the Gulf of Oman, a shipping gateway for much of the world’s petroleum.
In a report Friday, the International Energy Agency cut its global oil demand growth forecast and said there’s “plentiful’ supply to meet that growth.In closely watched oil-market report out Friday, the IEA downgraded its 2019 forecast for global oil demand for a second straight month, citing, in part, a global economic slowdown.