It seems that oil market participants are still concentrating on demand and trade war instead of oil supply! According to Reuters, 51 market economists and analysts predicted that Brent crude (LCOc1) would average 65.01$ a barrel in 2019 which is 4% lower than previous month (67.4$). Demand also reformed from 1.4 million barrels to 1.3…
crude oil
China Defies US Sanctions by Importing Iran Oil
China customs statistics show that the import of crude oil from Iran has increased 4.7% and 926119 barrels of oil was exported from Iran to China on June 2019 while the exemption of China from US sanctions is finished!
A New Country Joined to the List of Oil Exporters
#Kenya with exporting a #crude_oil cargo on Monday became the first #exporter of oil in East of Africa. However, according to Al Jazeera, Kenya needs time to provide all required infrastructures for producing oil. Kenya’s first oil cargo was over 200,000 MT. The first attempts at finding oil in Kenya date back to 1937 but…