Trade
Exports
Iran Determined to Increase its Oil Exports Despite US Sanctions
Iranian Oil Minister Javad Owji said "good things will happen regarding Iran's oil sales in the coming months."
Crude Oil , Trade
OPEC August Oil Output Rises But Outages Limit Gain, Survey Shows
OPEC+ has been easing record output cuts agreed in April 2020 as demand recovers.
Imports , Exports
Saudi Arabia's Oil Exports Jump 123% to Over $16 Billion
Saudi Arabia, the world's biggest oil exporter, was hit hard last year when oil prices plummeted.
Trade , International , Pipelines
Russia Pledges Retaliation after New US Sanctions on Nord Stream 2 Pipeline
The $11 billion project, which will double the existing Nord Stream pipeline across the Baltic Sea and allow Russia to bypass Ukraine when piping gas to Europe, has been a focal point of tensions between Moscow and Washington.
Trade , International
Iran Resumes Fuel Exports to Afghanistan after Taliban Request, Union Says
To counter the price spike, the new Taliban government asked Shi'ite Iran to keep the borders open for traders.
Trade , International , Pipelines
US Imposes Nord Stream 2 Gas Pipeline Sanctions
U.S. President Joe Biden separately issued an executive order allowing for sanctions to be imposed on certain Russian pipelines.
Crude Oil , Trade , International
Saudi Arabia Remains China’s Top Oil Supplier
China’s total crude oil imports last month tumbled almost 20% from a year ago as independent refiners faced tighter import quotas amid a government clamp-down on trade of the permits.
Crude Oil , Trade , International , Shale Plays
India’s State-run Refiner Scoops Up US Oil as Demand Rebounds
India is mostly buying WTI Midland—the light, sweet crude grade produced in the top U.S. shale region, the Permian Basin, due to attractive prices.
Crude Oil , Trade
Canada Largely Depends on U.S. Imports, Despite Being World’s 4th Largest Crude Producer
Interplay of geography and demand underpins energy interdependency between the two countries, IHS Markit report says.
Crude Oil , Trade , International
Saudi Aramco Looks at Raising Production Capacity as Profits Surge
Saudi Aramco is using the rise in oil prices to reduce leverage and invest in increasing production capacity, bucking the trend among international rivals to raise returns to shareholders.