Trump Says Countries Should Reimburse US For Strait Of Hormuz Help

Russia Says UAE's 'OPECxit' Won't Spark Immediate Price War Russian Deputy Prime Minister Alexander Novak, quoted by the Russian news agency Interfax, downplayed fears that the UAE's planned OPEC exit will trigger an immediate oil price war and race to the bottom.  "In the current situation, what kind of price war can there be when there is a shortage in the market?" Novak said, adding with the Strait of Hormuz remaining all but closed, "a huge amount of oil isn't reaching the market today, and demand is significantly higher than...

IEA Warns Escalation In US-Iran Hostilities Could Upend Oil Surplus Forecast Despite the tentative recovery of oil flows through the Strait of Hormuz and the first build-up in global stocks since the war began, this week’s re-escalation of the U.S.-Iran hostilities could flip the outlook for an oil market surplus for next year, the International Energy Agency said on Friday.  Oil prices have plunged since the United States and Iran signed the memorandum of understanding (MoU) in the middle of June, with North Sea Dated prices down by $31 per barrel in...

Russia Vows To Keep Selling Oil to India Despite US Tariff Threat Submitted by Charles Kennedy of OilPrice.com Russia will remain a key crude oil supplier to India, Russia’s Ambassador to India, Denis Alipov, said in an interview with Asian News International, in which he also criticized the planned U.S. legislation to slap tariffs on countries importing Russian oil. #WATCH | Delhi: On being asked how confident Moscow is about the India-Russia energy cooperation, Russian Ambassador to India, Denis Alipov, says, "The question is - how confident is India? India has shown...