Oil Prices Surge as Iran Sanction Waivers End
The US will no longer be giving any waivers to current Iranian oil buyers who were allowed in 2018 to purchase oil from Iran without sanctions.
Oil Price
Trading Firm Trafigura Sees $100 a Barrel by 2019
Oil prices could reach $90 a barrel by Christmas and rise further to $100 a barrel before the new year, Trafigura’s Co-Head of Oil Trading Ben Luckock told a conference on September 24.
Oman Crude Sees $6 Rise in One Day
The price of Omani crude oil crossed the $88 mark on September 26 for the first time in four years, a $6 jump from the day before.
Algeria Crude Exports Down 2.8% in Q1 2018
Algeria’s oil and gas exports fell 2.8% year-on-year (YOY) in Q1 2018 due to higher domestic consumption and lowered production.
Oman Production Reaches 30M barrels in August
Oman produced 30.21 million barrels of crude oil and condensate in August, averaging 974,500 barrels per day (b/d).
Government Official: Egypt Signs Oil Hedging Deals with Citibank and J.P. Morgan
Egypt has signed hedging contracts with American banks J.P. Morgan and Citibank to secure against fluctuating oil prices, according to a government official.
Egypt Pays $75 a Barrel to Import Fuel
The Egyptian government announced in an official document that fuel imports cost $75 per barrel.
Oil Reaches $80 for First Time since November 2014
Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.
Kuwaiti Oil Price Increases by 0.5%
Kuwait’s oil price has increased by 0.525% in the past few days.
Iraq Changes Course on Price Benchmarks
Iraq is reconsidering its previously announced plan to switch its price benchmark for Asian-bound crude from the Platts’ Oman-Dubai average to DME Oman futures.
