Oil Market “Heading In The Right Direction” Says Iraqi Oil Minister

According to Iraqi Oil Minister Jabar al-Luaibi, the oil market “is heading in the right direction … it will continue to stabilize until the end of the year,” he told reporters on Monday. As reported by Reuters, “The global oil market is stabilizing as crude inventories are falling… but Global oil producers agree that they should continue …

U.S. Oil Output Expected To Surpass Saudi Arabia

Rivaling Russia for the title of leader in oil production, the United States is expected to surpass Saudi Arabia in output, a country who has long been one of the world’s biggest producers of crude. According to The Wall Street Journal, “Boosted by a resurgent shale industry, U.S. crude production will likely climb above 10 …

Oil Investors Wait As Iran Sanctions Loom

According to Bloomberg Markets, President Trump “plans on sticking with an agreement that suspends American sanctions on Iran in return for limiting its nuclear research, according to two administration officials familiar with the matter.”  He must decide by Friday. But with these possible sanctions hanging over Iran, investors are hesitant to invest in Iranian oil.