EghtesadOnline: Oil prices edged up on Friday, heading for their biggest weekly gains since mid-December, fueled by supply worries amid escalating unrest in Kazakhstan and outages in Libya.
EghtesadOnline: Crude oil future prices ticked higher during the mid-morning trade in Asia Friday, as the markets continued to price in a commitment from the OPEC to ensure that the members adhere to the mandated production cuts.
EghtesadOnline: The United Arab Emirates, currently OPEC’s third-largest producer, is estimated to have exported a lot more crude oil in August as it produced more than its quota under the OPEC+ deal, undermining the oil market’s faith in the group’s unity in the cuts.
EghtesadOnline: Crude oil processing capacity in the National Iranian Oil Refining and Distribution Company (NIORDC), a subsidiary of the National Iranian Oil Company, has risen 43% to 2.3 million liters per day over the last decade.
EghtesadOnline: Roughly 6.5% of crude oil production in the US Gulf of Mexico remained offline on June 12 from Tropical Storm Cristobal's weekend saunter through the region, bringing the area's output closer to normalcy during what after a dozen days has already been an active hurricane season.
EghtesadOnline: Crude oil and byproducts supply chain has expanded by 512 kilometers in the last 12 months.
EghtesadOnline: Crude oil futures fell on Monday, with US futures touching levels not seen since 1999, extending weakness on the back of sliding demand and concerns that US storage facilities will soon fill to the brim amid the coronavirus pandemic.
EghtesadOnline: A new oil field was identified in southwest Iran that holds 53 billion barrels of crude oil, President Hassan Rouhani said in Yazd on Sunday.
EghtesadOnline: After failing to attract customers for crude oil offered on the Iran Energy Exchange, the National Iranian Oil Company says it plans to again tweak rules and procedures in the process, an official with the company said.
EghtesadOnline: A Majlis Research Center survey has revealed that total energy produced in Iran annually is equal to energy produced by burning 1.8 billion barrels of crude oil, of which 25% is consumed in the transportation sector.