Saudi Arabia And Iran Reignite The Oil Price War

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The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. Iran, OPEC’s third-largest producer, is trying to convince its oil customers to continue buying Iranian oil despite stringent U.S. Iran has slashed its official selling prices (OSPs) for all grades to all markets for September, looking to monetize what could be its last oil sales to some markets in Asia before the U.S.

IEA: key oil trends 2018

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in 2018 compared to 2017, reaching a record total monthly production of over 100 million tons at the beginning of the year and remaining above this for almost all of 2018, according to the IEA. or 105 Mt in 2018 compared to 2017. in 2018 compared to 2017.

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LG may work with Iran to develop EVs and infrastructure; 60K units by 2023

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Other LG entities—including LG Electronics, LG Chem and LG Innotek—will lead efforts to develop electric motors, batteries and key auto parts, the company said, according to a report from Iran’s Mehr News Agency. According to the deal, as reported in The Chosun Ilbo , LG will develop 20 EVs for automaker Iran Khodro by 2018 and set up charging stations in Tehran. LG International Corp.,

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The Saudi Dilemma: To Cut Or Not To Cut

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In spite of reservations expressed by Nigeria and Libya, if Saudi Arabia managed to convince everyone to cut amid the major tensions with Iran ahead of the U.S. million bpd, which was 770,000 bpd more than the average daily loadings rate for October and much higher than the last 2018 high of 7.766 million bpd booked for June. by Irina Slav for Oilprice.com.

Strong Dollar Could Cap Oil Prices

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The oil supply outages in Venezuela, Libya and Iran could yet drive oil prices much higher. By Irina Slav for Oilprice.com. The strength of the U.S. dollar poses an obstacle to further gains in oil prices. President Trump’s trade war with China, which is still in its early stages, has already battered the yuan. The dollar has gained more than 8 percent against the Chinese currency since March.