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Crashing Oil Demand Drives a 17 mbpd Global Output Cut in Q2

Consulting firm IHS Markit expects oil demand in the second quarter of 2020 to be 22 million barrels per day less than a year ago. This collapse in demand combined ...
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Saudi Oil Output Dips Despite Promises to Pump More

Saudi Arabia, which recently pledged oil-supply increases to tame rallying crude prices, cut production last month, according to OPEC delegates familiar with the matter. The biggest member of the Organization ...

S. Arabia’s SABIC Profits Fall

Saudi Basic Industries Corp (SABIC), the world’s fourth-biggest petrochemicals company, reported an 18.6% drop in fourth-quarter net profit, missing analysts’ forecasts, as sales dropped and its steel business was hit ...
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Kazakh FM: Astana talks only base to establish peace in Syria

madaresharghi Kazakhstan Foreign Minister Gheirat Abdelrahamanov said on Friday that Syrian Peace Talks in Astana serve as a full-scale and unique foundation for all interested parties to establish stability in ...
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EU Lawmakers Reach Deal on Climate Targets

madaresharghi European Union lawmakers and member states on Thursday agreed climate targets for 2030 in a move to meet the bloc’s obligations under the Paris Agreement, which seeks to avoid ...
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NISOC to Finalize 2 Oil Deals by March

madaresharghi Negotiations to develop two oilfields in the southern Khuzestan Province, namely Shadegan and Karanj, will be finalized by the end of the current fiscal that ends in March 2018, ...
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Tehran Quake Drives Up Gasoline Consumption

madaresharghi An earthquake whose tremors were felt in Tehran and surrounding areas late on Wednesday drove up gasoline consumption as people rushed to open spaces and inside their cars for ...
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Russia Backs Gradual Exit From Crude Cuts With OPEC

madaresharghi OPEC and Russia will exit from oil production cuts very smoothly, possibly extending the curbs in some form so as not to create any new surplus in the market, ...
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China to Open Cutting-Edge Solar Power Highway

madaresharghi China is set to open its first solar highway that can generate electricity from sunlight. The two-kilometer-long stretch of highway, situated in Jinan, could charge electric cars as they ...
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Oil Dips From Highs

madaresharghi Oil prices on Friday dipped away from some of their highest levels since 2015, weighed down by rising US output and the expected January re-opening of the Forties pipeline ...
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