Moscow (MEMO) – Oil prices slumped on Monday, pulling back from last week’s gains after Saudi Arabia and Russia delayed a meeting of oil producers aimed at resolving growing worldwide oversupply as the coronavirus pandemic pummels demand. The global oil market rebounded last week after sources at the Organisation of the PetroleumContinue Reading

Tehran (TSN) – The Iranian oil tanker seized as a tool of confrontation between the Persian country and the West has finally left Gibraltar Sunday after the British territory rejected a request from the United States to pursue the detention. The Adrian Darya 1, formerly known as Grace 1, left anchorage off Gibraltar around 11:00 p.m. local time for an unclear destination, shipping data showed.Continue Reading

Merida (VZA) -The Venezuelan government has announced the expansion of Chinese investment in the country’s oil industry, with the aim of increasing production by 120,000 barrels per day. The investment, which authorities say is worth US $3 billion, financed the construction of a new oil blending plant inaugurated last Thursday as the firstContinue Reading

Bagdhad (AMA) – Iraq has opposed the final statement of an emergency meeting in Saudi Arabia, which condemned what it called Iran’s “interference” in countries of the Middle East region. A statement by the (Persian) Gulf Cooperation Council and the communiqué issued after a wider summit both underlined the rightsContinue Reading

Washington D.C. (SCF) – After dramatic and patently scripted warnings of “Iranian aggression” by bellicose US officials, there then follows – conveniently enough – an alleged sabotage incident in the Persian Gulf region implicating Iran. Meanwhile, US Secretary of State Mike Pompeo poses with a straight face that his countryContinue Reading

Washington D.C. (TNA) – Oil futures rose on Monday on increasing concerns about supply disruptions in the crucial producing region of the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-US trade talks. Brent crude futures were at $71.00 aContinue Reading

YPG will be disarmed iran oil sanctions

Ankara (TM) – Turkey’s Minister of Foreign Affairs Mevlüt Çavuşoğlu on Monday criticized a United States announcement to cancel oil-related sanctions waivers on Iran. “The US decision to end sanctions waivers on Iran oil imports will not serve regional peace and stability, yet will harm Iranian people. Turkey rejects unilateral sanctions and impositionsContinue Reading