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Oil crisis, coronavirus taking toll on MBS
May 07, 2020 10:07The coronavirus pandemic coupled with a dramatic fall in oil prices is taking its toll on the leadership of Saudi Arabia's heir apparent Mohamed bin Salman (MBS), a new analysis shows.
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Baseless US claims aim to obstruct Venezuela's oil plans amid sanctions: Iran
May 01, 2020 10:18Foreign Ministry has dismissed "baseless" allegations made by an American diplomat about the Islamic Republic's trade ties with Venezuela, saying such claims are aimed at creating obstacles in the way of the South American country's plans in the oil sector amid the cruel US sanctions.
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Oil prices surge over 10% amid signs fuel demand picking up
Apr 30, 2020 05:49Oil prices jumped on Thursday following reports that US crude stockpiles increased less than expected and that gasoline demand battered by coronavirus restrictions is beginning to rise.
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US oil giant to leave Venezuela on Trump order
Apr 23, 2020 09:05Venezuela is facing a commercial dilemma as Chevron, one of the US’s largest oil corporations, halts its production in the South American country following an order by Donald Trump.
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Shale oil producers being punished for inaction: Zanganeh
Apr 22, 2020 08:52Minister of Petroleum Bijan Zangeneh says shale oil producers in the US and Canada are being punished by a historic rout in oil markets for refusing to join production cuts by OPEC and its allies.
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Iran shipped $60bn worth of goods, services since start of US sanctions
Apr 22, 2020 01:02Iran has pocketed around $60 billion from exports of products, services and energy since the United States imposed its sanctions on the country’s sale of crude two years ago.
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US oil collapses to $11 as world awash with crude
Apr 20, 2020 09:23US oil prices dived to 22-year lows at just $11 Monday after crashing almost 40 percent in a market flooded with crude and slammed by evaporating demand in the face of the coronavirus pandemic.
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Oil drops to 21-year low with storage filling as demand shrivels
Apr 20, 2020 02:54Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.
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Draft deal on oil output cuts due in days: Zanganeh
Apr 10, 2020 10:48Iran’s Oil Minister Bijan Namdar Zanganeh says a draft agreement on massive cuts to the global oil supply would be finalized in a matter of days after major producers around the world agreed to reduce output to control the prices in the markets.
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Saudi Arabia says final accord on oil production depends on Mexico
Apr 10, 2020 10:02Major oil producers have reached a partial agreement on the reduction of their production to prop up prices hammered by the coronavirus pandemic but Saudi Arabia says the final accord depends on Mexico’s consent to go along with the proposed cuts.