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Saudi Arabia Declares Inability to Affect Oil Market

Saudi Energy, Industry and Petroleum Minister Khalid Al-Falih said on Sunday that his country was unable to influence oil prices, two days after US President Donald Trump asked OPEC to reduce fuel prices.

OPEC, Russia Rejects Trump’s call to Increase Oil output

Saudi Arabia – the biggest oil producer of the Organization of the Petroleum Exporting Countries (OPEC) – and biggest oil-producer ally outside the group, Russia, have jointly rebuffed a veiled request by US President Donald Trump to implement an immediate increase in their production of crude oil.

US Pressing Oil Majors to Raise Output

Iran has criticized the United States of pressuring oil producers of the Persian Gulf region to increase their output, expressing hope that member states of the Organization of the Petroleum Exporting Countries (OPEC) would not yield to “orders” by US President Donald Trump to turn the taps on.

Iran Warns OPEC against Appeasing US

Iranian minister of petroleum has warned fellow OPEC members against any effort to appease the US, saying Tehran will veto any decision by the Organization of Petroleum Exporting Countries that harms Iran's national interests.

Iraq Oil Output to Decrease Until 2028

New estimates show Iraq’s oil production would be squeezed for the next decade as a result of what analysts see as a lack of adequate operational infrastructure.

Iran Sanctions not Productive

Russia has described emerging US sanctions against Iran as ‘unproductive’ with the country’s top energy official warning that there would be consequences for the world should Iran’s oil supplies to global markets are halted due to the sanctions.

Saudi Arabia, UAE Turning OPEC Into US Tools

Iranian representative to OPEC said that Saudi Arabia and the United Arab Emirates (UAE) are turning OPEC into an instrument for the United States, which undermines the credence of the organization, and OPEC is now without identity and effect.

US Will Fail to Achieve Zero Oil Exports Target: Iran

A senior Iranian oil official says the United States will fail to drive Iranian oil exports down to zero as the market is already tight and rival producers are not able to make up the shortfall.

US Energy Chief Meets Russian, Saudi Counterparts before Iran Sanctions

US Energy Secretary Rick Perry will meet his counterparts from Saudi Arabia and Russia starting on Monday ahead of Washington’s renewed sanctions on Iran’s crude exports.

Europe Firms Hit Hard by US Sanctions on Iran

US unilateral sanction, especially the ones to be imposed on the countries oil industry, will be very harmful to the economy of Europe, wrote the Bloomberg on Sunday.

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