Iran reacts with war threats as US waivers on Iranian oil expire

Iran’s armed forces should prepare as if an attack were imminent, General Abdolrahim Mousavi instructed on Thursday just as the US waivers on Iranian crude oil sanctions expired, according to Iran’s Radio Farda. “All forces should prepare themselves as though an attack can occur tomorrow and continuously engage in war exercises,” Mousavi told IRNA, the official […]

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U.S. warns the world including India against buying Venezuelan oil

U.S. National Security Advisor John Bolton has warned countries and companies against buying crude oil from Venezuela, after the Latin American country’s Oil Minister Manuel Quevedo said during a surprise visit to India that Venezuela wants to sell more oil to the fast-growing Indian market. In a tweet with a Bloomberg article on Venezuelan-Indian oil relations attached, […]

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Saudi Arabia needs $80-85 per barrel oil price to balance its 2019 Budget: IMF

OPEC’s biggest producer Saudi Arabia would need oil prices at US$80-85 per barrel in order to balance its 2019 budget, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), told Reuters. Saudi Arabia’s officials, including Energy Minister Khalid al-Falih, don’t discuss publicly ‘targeted oil prices’ or a desired […]

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