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OPEC is poised to defy Trump once again by keeping a lid on oil output
Major oil-producing nations are leaning toward keeping a lid on production throughout 2019, defying President Donald Trump’s calls to open the taps and cut the cost of crude.
Oil edges up on Mideast tensions, supply outages
Oil prices rose on Tuesday on escalating US-Iran tensions and amid expectations that OPEC producers will continue to curb supply this year.
Oil prices surge on signs OPEC may extend output cuts by year-end
Oil prices have jumped at the beginning of the trading week after indications emerged from the Organization of the Petroleum Exporting Countries (OPEC) that the body may maintain production cuts until the end of 2019.
Iran hopes new India gov’t will resume oil purchases: Envoy
India’s sudden halting of crude oil imports came as a shock for long-standing strategic partner Iran, but Tehran believes purchases will resume as soon as a new government comes to office in New Delhi, Iranian Ambassador to India Ali Chegeni told ThePrint.
Oil rises after OPEC+ says to keep output cuts
Oil hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that have helped boost prices this year, while escalating Middle East tensions provided further support.
Oil producers support OPEC+ cut extension
Iraq backs an extension of the OPEC/non-OPEC production cut agreement, Thamir al-Ghadbhan, the country’s oil minister said on Sunday, while his Kuwaiti counterpart said current prices indicated the market was well-supplied, despite the US tightening sanctions on Iran.
Iran’s crude exports over 250,000 bpd: Sources
Iran has exported between 250,000 bpd and 500,000 bpd of oil so far in May despite US sanctions, according to two industry sources who track the flows.
Iran changes tactics, destinations on oil exports
Iran has adopted new tactics and new destinations in shipping its oil exports following the reimposition of US sanctions, a senior Iranian maritime official said on Saturday.
OPEC sees more demand for its oil as it keeps cutting output
OPEC said that world demand for its oil would be higher than expected this year as supply growth from rivals including US shale producers slows, pointing to a tighter market if the exporter group refrains from raising output.
South Korea’s oil imports from Iran rise in April
South Korea’s oil imports from Iran rose 17 percent in April from a year earlier, customs data showed on Wednesday, but shipments are set to end from May as waivers on US sanctions on Tehran expired at the start of this month.
IEA: Oil supply drops amid US sanctions on Iran
The world's oil supply fell last month, the International Energy Agency said Wednesday, amid rising global tensions as US sanctions on Iran tightened and OPEC+ members produced less crude in line with their pact.
India to decide on resuming purchase of Iranian oil after elections: Source
India said on Tuesday it will decide on its oil imports after elections end this month, in line with its economic interests, a government source said.
Saudi Arabia says oil tankers hit off UAE; Iran calls for probe
Saudi Arabia said on Monday that two Saudi oil tankers were attacked off the coast of the United Arab Emirates, condemning it as an attempt to undermine the security of crude supplies.
OPEC’s April oil supply down to 30.23 mbd
The Organization of Petroleum Exporting Countries, OPEC’s April supply dropped to 30.23 million barrels per day, mbd, showing a four-year low.

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