China’s state-run energy giant is making a new approach to strike a $3 billion Iranian oil field, seeking to take advantage of waivers allowed under US sanctions even as two European nations have ended crude purchases, according to people familiar with the matter.
The moves highlight the...
Oil prices rose on Friday after a report from the Organization of the Petroleum Exporting Countries showed its production fell sharply last month, easing fears about prolonged oversupply.
US West Texas Intermediate crude futures were at $52.62 per barrel, up 55 cents, or 1.1%, from their last...
The United States is likely to extend waivers from sanctions on Iranian oil imports in May, but will reduce the number of countries receiving them to placate top buyers China and India and to decrease the chance of higher oil prices, analysts said.
Washington surprised oil markets after...