For instance, beginning from April, India, Iran's top oil client after China, sharply reduced oil
imports from Iran as a result of a sudden standoff around awarding Farzad B gas field to Indian companies.
There are a lot of people in the market who say that without these restrictions we will see a reduced oil
price, so there are plenty of hopes for OPEC to extend the restrictions for at least three to six months next year," said Anna Kitanaka.
Islamabad -- Passing on full benefit to the consumer of reduced oil
prices in the international market the government decided on Sunday a reduction in prices of petroleum products by Rs3 per liter.
The report said that the oil sector comprises half of Abu Dhabi's GDP therefore, the reduced oil
price and the announcement by ADNOC that it plans to cut 5,000 jobs by year-end, has had a major impact on GDP and employment growth.
TEHRAN (FNA)- South Korea's oil imports from Iran and Russia rose while it reduced oil
sales from Saudi, Arabia, Iraq, Kuwait and UAE.
Perhaps the most direct beneficiary of a reduced oil
price is Caltex Australia Limited.
US energy firms reduced oil
rigs for an eighth week in a row this week but slowed the rate of those cuts to just one rig, data showed, a sign some drillers may soon return to the well pad with hopes of rising crude prices in the future.
Talking to a news channel, he said the government reduced oil
prices to provide relief to citizens and suffered loss of over Rs 60 billion during current financial year.
The Oil Ministry announced a rise in exports of Iraqi crude for the month of July compared with June in spite of the stops and reduced oil
exports through the Turkish port of Ceyhan to high records.
The main challenge today is the reduced oil
prices and this could impact the pace of some of the country's projects that have been under planned implementation.
In addition, there is a scheduled maintenance of one of the largest oil companies, Tengizchevroil, that reduced oil
Ten months of protests at oil facilities have reduced oil
output to around 200,000 barrels a day, down from 1.