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Sanctions choke Iran’s crude sales but oil product exports are booming

2 September 2019, 1:13 PM

While United States (US) sanctions on Iran’s oil industry have slashed the OPEC member’s crude exports by more than 80%, oil product sales from the Islamic Republic remain strong at nearly $500 million a month, shipping data and Reuters calculations show.

Oil prices edge up on surprise draw down in U.S. crude stockpiles

17 October 2018, 7:36 AM

Oil prices extended gains into a fourth session on Wednesday, buoyed as industry data showed a surprise decline in U.S. crude inventories and as geopolitical tensions over the disappearance of a prominent Saudi journalist stoked supply worries. U.S. West Texas Intermediate crude was up 15 cents,or 0.2 percent, at $72.07 a barrel by 0255 GMT […]

Iranian crude exports fall further as Trump’s sanctions loom

15 October 2018, 3:13 PM

Turkey and Italy are the last buyers of Iranian crude outside China, India and the Middle East, according to tanker data and an industry source…

Crude oil

Oil prices rise on signs that Iranian crude exports fall further

9 October 2018, 5:48 AM

Oil prices rose on Tuesday as more evidence emerged that crude exports from Iran, OPEC’s third-largest producer, are declining in the run-up to there-imposition of U.S. sanctions and as a hurricane moved across the Gulf of Mexico.

Crude oil

Oil prices rise on declining US crude stockpiles

12 September 2018, 7:20 AM

Oil prices rose on Wednesday following a report of declines in US crude inventories and as looming sanctions against Iran raised expectations of tightening supply, while top producer Russia warned of a fragile global crude market.

Brent crude oil exceeds 70 dollar mark

11 April 2018, 4:01 PM

The price of a Brent crude oil has exceeded the 70-dollar mark, trading up by almost 3% after a slightly unsteady start to the week.


Oil majors strike it rich on rising crude prices

11 February 2018, 9:43 AM

The world’s leading oil companies published a bumper crop in profits last year as rising crude prices helped turn their fortunes around, but they remain cautious and are unlikely to rush out on a new spending spree just yet.

California will block crude oil from Trump offshore drilling plan

8 February 2018, 7:31 AM

California will block the transportation through its state of petroleum from new offshore oil rigs a move meant to hobble the Trump administration’s effort to vastly expand drilling in US federal waters.

Crude oil reserves back on the spotlight

1 November 2017, 11:26 AM

The probe into the sale of the country’s crude oil reserves once again came under the spotlight when Energy minister, David Mahlobo and his department appeared before parliament on Tuesday.

Politics, potholes and price drops: the story of Kenya’s crude

4 May 2017, 8:05 AM

Kenya plans to export its first oil in June, despite analysts saying the test phase faces major challenges and appears political motivated.



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