The United States must decide soon whether to overturn its nearly 40-year ban on oil exports or it risks inhibiting output from the domestic drilling boom, the executive director of the International Energy Agency said on Tuesday.
The leader of an autonomy movement in eastern Libya said on Sunday he will not order his militia troops to end the blockade of several oil-exporting ports.
"We will not reopen the ports," Ibrahim Jathran told reporters,
Iraq's oil exports from its southern ports have slowed so far in September and may fall further until mid-October due to maintenance, according to shipping data and industry sources, tightening supply from Opec's second-largest producer.
Bad weather cut oil exports from Iraq's Basra ports to 864,000 barrels per day (bpd) on Saturday from 2.23 million bpd a day earlier, a shipping source said.
"High winds in the Gulf are disrupting loading operations and p
Iran is investigating a suspected cyber attack on its main oil export terminal and on the Oil Ministry itself, Iranian industry sources said on Monday.
A virus was detected inside the control systems of Kharg Island, the country's lar
Iraq aims to boost oil exports by 200,000 barrels per day next month after it opens up a new Gulf outlet, a senior Iraqi oil official said, freeing Baghdad to export all the extra barrels foreign oil companies are extracting from its giant fields.
More than 3,000 customs officers in Kuwait went on strike today demanding better pay and working conditions, trade union officials said.
The indefinite strike could affect exports and imports, including oil exports, a report said.
Saudi King Abdullah's bumper cash pledge to build more homes shows the kingdom's intent to address vast undersupply in the world's biggest oil exporter, but there is no quick fix for its property woes.
In a r
Iraq plans to raise the capacity of its southern oil export facilities in the Gulf to between 5 and 6 million barrels per day (bpd) by the end of 2013, deputy oil minister Ahmed al-Shamma said on Tuesday.
The move comes as part of the