October 22, 2018

From Reuters Saudi Arabia has no intention of unleashing a 1973-style oil embargo on Western consumers and will isolate oil from politics, the Saudi energy minister said on Monday amid a worsening crisis over the killing of Saudi journalist Jamal Khashoggi. “There is no intention,” Khalid al-Falih told Russia’s TASS news agency when asked whether there could be a repeat

From The Wall Street Journal As pipeline bottlenecks crimp the U.S. shale boom, some companies are racing to address the next potential constraint on American oil output: the terminals to export crude to foreign markets. Oil exports have been a key release valve for U.S. producers in the three years since Congress lifted a longtime ban on overseas crude sales. Exports topped 2.1 million

From Bloomberg Iraq is fast becoming a global oil powerhouse, gaining stature in OPEC after it surpassed Canada this year as the world’s fourth-biggest producer. But the war-ravaged country has little to show for its feat. While crude markets are preoccupied with Saudi Arabia’s ability to boost output as impending U.S. sanctions curb Iranian exports, Iraq has quietly increased shipments