Oil prices reached their highest level in 2019 yesterday on the prospect of a further contraction in supplies from key oil producing nations, in addition to an OPEC-led supply cut. Brent crude futures rose to US$69.52 per barrel – its highest price since November – before...
The United States has ramped up pressure on President Nicolás Maduro’s government in Venezuela by imposing sanctions on the state-owned oil company PDVSA. The US Treasury said that all of PDVSA’s assets subject to its jurisdiction were blocked, including Citgo – the company’s US refining subsidiary. While...
Iran has identified potential new buyers for its oil according to a senior Iranian energy official, as the Middle Eastern nation contends with sanctions imposed on its oil sector by the US. Amir Hossein Zamaninia, Iran’s deputy oil minister for trade and international affairs, said that...