The officials were arriving in Vienna ahead of the official meeting Friday, when they will also confer with Russian Federation, a non-OPEC country that since late 2016 has cooperated with the cartel to limit production.

"It's really a double whammy for Iran", Smith says, "from the perspective that because sanctions are being placed on them, they're not going to be able to export as much, because they probably won't be able to send crude into Europe". It said China takes around 20% of all United States crude exports.

In the wake of Friday's latest barrage of United States sanctions on China, the biggest customer for U.S. oil exports is threatening to impose its own tariffs on USA energy imports. Brent crude jumped $1.55 to $74.99 a barrel. "Not good!" Trump said in a Twitter message.

"This renewed commentary by Novak that they're looking for 1.5 million bpd of production is putting downward pressure on prices in a significant manner". We expect prices to be in broad range of $63 and $66 on the WTI, with heightened volatility ahead of the event.


An OPEC technical panel has found that global oil demand is on pace to stay strong in the second half of this year, suggesting that the oil market could comfortably absorb a production increase without sending oil prices plummeting, Reuters reported on Tuesday, citing three OPEC sources.

Related news:

Share this:

Hot News

isis-killer-beheading-video-story-top Kenya: Senegal defender confirms Sarri's move to Chelsea | The Standard - Kenya
Jun 22, 2018 - 16:09
But at least he had some success during his time in west London, winning the Premier League in 2017 and the FA Cup a year later. Whether it be as a coach or on the technical side, Zola's return would go down well with both the fans and the players.

isis-killer-beheading-video-story-top Omar calls for fresh polls in J&K as BJP hints at surprise
Jun 22, 2018 - 11:16
This weekend, on June 23, the BJP's Shah is coming to Jammu attend to a function to mark the death anniversary of Mookerjee. PDP is the largest party in the state. "The regional party government acts as a buffer in states like Jammu and Kashmir ".

isis-killer-beheading-video-story-top Former FIFA President Sepp Blatter claims VAR is failing
Jun 21, 2018 - 22:54
At the moment, too busy schedule does not allow Vladimir Putin to visit the matches of the 2018 world Cup. Football should help, perhaps, to solve political problems", he said.

isis-killer-beheading-video-story-top Burden falls on Coutinho to keep Brazil going at World Cup
Jun 21, 2018 - 22:47
Neymar returned to Brazil training at the World Cup on Wednesday, a day after quitting a session early due to an ankle issue . When he plays for us, it's a huge help.

isis-killer-beheading-video-story-top Asked about prosecutions, Trump says United States must have tough border policy
Jun 21, 2018 - 22:45
In allowing journalists to accompany her, Melania Trump ensured that her meetings with immigrants would be well publicized. Hours before Trump used his executive order to halt family separations, a White House official let it be known that Mrs.

isis-killer-beheading-video-story-top Woman gets black eye from flying hot dog launched at baseball game
Jun 21, 2018 - 22:26
McVay doesn't plan to take legal action against the Phillies and seems to be taking the injury with a good sense of humor. Sources close to the team also told Bloomquist that the Phanatic "feels terrible" about causing her injuries.

isis-killer-beheading-video-story-top Messi deserves no blame - Argentina boss Sampaoli
Jun 21, 2018 - 22:09
Maradona said that the road to qualification is hard pointing Nigeria as a stubborn opponent that may stop them in their last qualification match.

isis-killer-beheading-video-story-top Supreme Court lets states charge internet retailers more in taxes
Jun 21, 2018 - 19:55
Some states will still have to pass new legislation to demand tax from out-of-state orders, and that isn't always guaranteed. The conservative chief justice, John Roberts dissented along with liberals Stephen Breyer, Sonia Sotomayor and Elena Kagan.

isis-killer-beheading-video-story-top Trump, GOP to huddle as outrage builds over border policy
Jun 20, 2018 - 01:16
Customs and Border Protection detention facility revealed harrowing cries from children separated from their families. Members will be waiting for Trump's feedback on both of the bills up for consideration.

isis-killer-beheading-video-story-top Xi Jinping, Kim Jong Un hold talks in Beijing
Jun 20, 2018 - 00:48
Previous visits by North Korean leaders have been shrouded in secrecy and confirmed only after their departure. Ending the war games had been a long-standing demand by both North Korea and China.

isis-killer-beheading-video-story-top Emery's faces baptism of fire as Arsenal to open against City
Jun 20, 2018 - 00:40
Four rounds of Premier League fixtures are scheduled before the first worldwide break, which is on the weekend of 8-9 September. Instead it is the fact that the Reds face home games following their six Champions League group stage matches.

isis-killer-beheading-video-story-top Why Is James Rodriguez Not Playing? Colombian Star Ruled Out
Jun 20, 2018 - 00:32
Japan coach Akira Nishino praised his players' ability to adapt and secure the victory through Yuya Osako's 73rd-minute victor . The moment which settled the match came on three minutes, when an error from Davinson Sanchez allowed Yuga Osako in on goal .

isis-killer-beheading-video-story-top May back in the breach as Brexit battles resume
Jun 18, 2018 - 15:31
That would see the matter returned yet again to the Commons , where MPs will have another chance to defeat the Government. Labour's shadow Brexit secretary Sir Keir Starmer told the government their amendment is "simply not good enough".

isis-killer-beheading-video-story-top People are split over Meghan Markle's latest appearance
Jun 18, 2018 - 15:29
Markle said that though Harry was a prince, his daughter, former star of the TV show Suits , was more than a match for him. The royal family are required to remain neutral on political matters and do not usually discuss them in public.

isis-killer-beheading-video-story-top Mexico shock defending champions
Jun 18, 2018 - 14:45
The Germans were being dominated in midfield and every time the ball broke in the centre, the Mexicans swarmed in numbers. In the giddiness that followed the victory, Osorio was asked if Mexico could now be considered a favorite.