US crude oil stocks in the Strategic Petroleum Reserve (SPR) declined by 5.1 million barrels (mmbbl) last week to 311.4 mmbbl, the lowest level since March 1983, according to data from the US Department of Energy. The...
US shale fields across the country reported production drops of a combined 80,000 b/d, the EIA said. The drop in production is lower than expected, being a smaller reduction than what was observed over the last four m...
Falling world oil prices will hurt countries across the Middle East unless Saudi Arabia, the world’s biggest crude exporter, takes action to reverse the slump, Iran’s deputy foreign minister told Reuters. ...
Iran’s crude sales dived to just 800,000 barrels per day in July, due to Western sanctions, but are likely to have bounced back last month, according to a senior Iranian legislator. Iranian officials usually pla...