This trade war has slowed demand for oil in China, but also in Europe and America itself.
Saudi Arabia’s Abqaiq plant has restarted and is now processing about 2 million barrels a day, restoring just under half the output lost after the facility was damaged in an attack.
It is likely that any further production cuts by OPEC and Russia to maintain prices will be harder to implement if all it does is boost American oil producer’s profit margins and encourage greater investment in well drilling and completions.
The GCC states are facing up to the challenge of combining energy diversity with security
With the lessening of U.N. sanctions and expected inflow of foreign capital and technology, it is predicted that gas will be the basis of Iran’s future prosperity and foreign exchange earnings. The country is home to 33.5 Tcf of natural gas, equivalent to 18% of the world’s total gas reserves, […]