OPEC chief says Iran still ‘very important’ as US sanctions loom

The head of OPEC said Tuesday that Iran remains “a very important member” of the oil cartel, as Tehran braces for a new round of US sanctions partially targeting its crude exports. “Iran is a very important member of OPEC… and we have no choice…

INDIA CHINA JOIN HANDS TO COUNTER OPEC’S DOMINANCE IN ASIAN OIL MARKET

With oil producers’ cartel OPEC playing havoc with prices, India discussed with China the possibility of forming an ‘oil buyers club’ that can negotiate better terms with sellers as well as getting more US crude oil to Asia to cut dominance of the oil block….

OPEC, Russia Prepared to Raise Oil Output Amid U.S. Pressure – DAILY NEWS

OPEC, Russia Prepared to Raise Oil Output Amid U.S. Pressure Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, weeks after U.S. President Donald Trump complained about artificially high prices. Original content: nytimes.com…