DOHA: For months, Lebanon and Israel have been at a historic crossroads over how to settle their maritime boundary dispute. Although their competing claims concern a patch of water of less…
OPEC to Lose Effectiveness if Member-States Don’t Respect Quotas – Tehran
MOSCOW (Sputnik) – Iranian Petroleum Minister Bijan Zangeneh sent on Monday a letter to President of the Organization of the Petroleum Exporting Countries (OPEC) Suhail Al Mazrouei to warn the cartel that…
Why oil prices are suddenly tanking
Once red-hot, oil prices are suddenly tanking. Rumors about emergency action from the Trump administration helped send US crude plunging 5% on Monday, sinking to as low as $67.58 a barrel. The…
Iran warns OPEC, Saudi on violating output-cap agreement
Addressing Al Mazrouei, Zanganeh warned that any violation of OPEC’s oil production ceiling will hurt the effectiveness of the organization, Shana news agency reported on Monday. Urging strict adherence to the agreed…
Fitch Economist Blows Lid off US’ Dependence on Russian Oil
Russia doesn’t view the US as a potential key purchaser of the its oil, while Washington has expressed a keen interest in putting a damper on exorbitant oil prices by pushing OPEC…
Opec+ oil production boost to reassure market investors: EIU
The 1mn barrels per day production boost by Opec and its allies will help to reassure market investors and prevent a spike in oil prices in the near term, Economist Intelligence Unit…
Turk Economy Czar Sees Curbing Infation Top Priority
Berat Albayrak uses first interview to highlight policy goals Erdogan’s son-in-law says Turkish central bank is independent Treasury and Finance Minister Berat Albayrak pledged to rein in inflation and highlighted central bank…
Time running out for Brexiteers
By Gwynne Dyer/Washington, DC Even with Donald Trump scheduled for a brief visit to the United Kingdom this week amid massive protests, it’s still ‘all Brexit, all of the time’ in the…
Libya’s National Oil Corporation to re-open key southern oilfield
Libya’s National Oil Corporation (NOC) said yesterday it will re-open a southern oil field and resume production within 48 hours, after announcing a resumption of exports in the eastern oil crescent. The…
Why Saudi’s Aramco IPO won’t happen: It’s a bad investment
Bloomberg/London It was the moment Saudi Arabia’s reforming young prince told the world he meant business. In early 2016, Mohammed bin Salman said he planned to sell shares in the kingdom’s crown…