OPEC and allies such as Russia will ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic.
The border dispute between India and China has undoubtedly been hazardous especially for Asia and carrying a hidden secret.
A former Iranian OPEC governor rejected claims by authorities in crude-producing countries that output of oil in Iran has exceeded a limit set by the Organization of Petroleum Exporting Countries and allies, a grouping known as OPEC+.
Saudi Arabia warned OPEC members Nigeria and Angola that it would ignite an oil-price war with them unless they toe the line.
World economy in the energy sector has a momentary look at the oil market and it actually knows it is impossible to stop this look in the short time.
OPEC members and other key oil producers agreed Saturday to extend historic output cuts through July, as oil prices tentatively recover and coronavirus lockdowns ease.
Iranian Deputy Oil Minister for International Affairs and Trading Amir-Hossein Zamaninia was officially appointed as Iran’s OPEC governor.
OPEC, Russia, and their allies hold talks on Saturday on extending record oil production cuts that have doubled oil prices since April.
Foreign Minister Mohammad Javad Zarif and Oil Minister Bijan Namdar Zanganeh have offered commiserations on the passing of OPEC Governor of Iran, Hossein Kazempour Ardebili.
The United States is on track to cut 1.7 million barrels of oil production per day, according to Reuters calculations of state and company data shared on Thursday.