EghtesadOnline: A month 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.
EghtesadOnline: Whether it is the US sending military warnings to Iran or tensions in Venezuela, some oil traders have started to gear up for a possible price surge as political risks escalate.
EghtesadOnline: International Monetary Fund Managing Director Christine Lagarde said on Monday she expects the United States and China to reach a deal to end their trade dispute, which has unnerved financial markets and cast a shadow over the global economy.
EghtesadOnline: American middle class consumers are enjoying the strongest wage growth in a decade, but higher gasoline prices are eating a good chunk of that increase for many, and it looks like pump prices are headed higher.
EghtesadOnline: As the US ends waivers that let countries buy Iranian crude, this threatens to squeeze oil supplies in an already tight market.
EghtesadOnline: The United States has made a major error of judgment by politicizing oil and using it as a weapon in already fragile international oil market.
EghtesadOnline: The US administration said on Monday that it will not renew waivers that let countries buy Iranian oil without facing sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
EghtesadOnline: The pact between OPEC, Russia and its allies is "here to stay," a longtime adviser at Saudi Arabia's energy ministry said, playing down concerns that the alliance could end given Russia's lukewarm comments around the ongoing market management.
EghtesadOnline: Italy’s top bank UniCredit SpA and two subsidiaries have agreed to pay $1.3 billion to US authorities to settle probes of violations of US sanctions on Iran and other countries, US authorities said on Monday.
EghtesadOnline: 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.