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Latest News & Updates

World Oil

Crude pushed higher after Saudi Arabia pledged not to flood world markets with oil.
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Just as Libya resumes oil exports from recently shuttered ports, an attack on its largest field is setting back progress yet again.
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Iraq exported oil at the fastest pace since late 2016 during the first half of July, indicating OPEC’s second-largest producer is pumping more after the group eased production limits.
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DNO ASA, the Norwegian oil and gas operator, today announced a two-thirds increase in production from Peshkabir field--which is in the Tawke license, in the Kurdistan region of Iraq--to 25,000 bopd, following completion of the Peshkabir-4 well testing program.
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SDX Energy Inc., the North Africa focused oil and gas company, has announced that a successful production test has been conducted at its SD-4X appraisal well at South Disouq, Egypt.
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Iraq is pumping oil at normal levels even as protests spread across the southern region from where OPEC’s second-biggest producer exports most of its crude, according to a government spokesman.
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Oil output at Libya’s biggest field is set to drop by about half after authorities evacuated staff and shut wells for safety following the armed abduction of several workers at the Sharara deposit, according to the state National Oil Corp.
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A senior Iranian oil official urged U.S. President Donald Trump not to use the nation’s Strategic Petroleum Reserve to push prices lower, and instead drop sanctions on Iran’s crude exports.
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Evidence is mounting that Saudi Arabia is heeding U.S. President Donald Trump’s call for OPEC to keep the oil market amply supplied and rein in prices.
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Iran said Russia is ready to invest as much as $50 billion in its oil industry even as Western majors are pulling out of deals with the republic amid the threat of U.S. sanctions.
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