Failure to secure waiver extension, Japanese refiners put the brakes on Iranian crude imports

Unable to secure a waiver extension from Washington to continue buying Iranian oil, Japanese refineries are putting the brakes on further imports in order to give payments enough time to be processed under the existing waiver. In total, Japanese refiners purchased over 15 million barrels of Iranian crude from January through March, but the waiver […]

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U.S. to lead global oil supply growth, no peak in oil demand in sight – IEA

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The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s (IEA) annual oil market forecast. By the end of the forecast, oil exports from the United States will […]

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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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