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Iran possesses the second largest gas reserves on the planet, after Russia, and the fourth largest oil supplies

China Could Ramp Up Iranian Oil Purchases to Blunt U.S. Sanctions

The Wall Street Journal noted on Tuesday that the Trump administration’s plan to pressure Iran with renewed sanctions might have one big flaw: China. The Chinese are in a position to buy so much Iranian oil that the effect of isolating Iran from U.S. and European markets will be greatly diminished.

Iranian vice-president and candidate in Iran's upcoming presidential elections Eshaq Jahangiri gives an interview to AFP in Tehran on May 9, 2017

Iran’s VP Vows to ‘Sell as Much Oil as We Can’ in Face of U.S. Sanctions

Iranian Vice President Eshaq Jahangiri vowed on Tuesday that the Islamic Republic will “sell as much oil as we can” to protect its banking system, the financial lifeblood of the regime’s Islamic Revolutionary Guard Corps (IRGC), while acknowledging that America-imposed sanctions would hurt Iran’s economy.

FILE - This June 27, 2017, file photo shows an oil rig at sunset in Midland, Texas. President Donald Trump relentlessly congratulates himself for the healthy state of the U.S. economy, with its steady growth, low unemployment, busier factories and confident consumers. But in the year since Trump’s inauguration, most …

Saudis Planning $10B Investment in Texas

Saudi oil executives inked multi-billion dollar deals with companies to explore building petrochemical facilities along the Texas Gulf Coast. Essentially, they hope to capitalize on the U.S. oil and gas boom, largely fueled by shale drilling in the Permian Basin.

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Trump Rally Takes Wall Street to Historic ‘Superfecta’ High

CNN Money made no bones about crediting the incredible post-election surge in the stock market to a “Trump rally,” as Wall Street hit the rare “superfecta”: all four major indexes closing at record highs on the same day.

(An anti-government protester displays paintings on her hand of other countries involved in the Arab Spring revolutions during a rally to demand the ouster of Yemen's President Ali Abdullah Saleh in Sanaa October 26, 2011. The words read, "Go out." REUTERS/Louafi Larbi )

Arab Spring Price Tag Calculated at $614 Billion

The United Nations Economic and Social Commission for Western Asia (ESCWA) has concluded that the 2011 “Arab Spring” uprisings cost the affected countries a total of $614 billion, amounting to 6% of their combined Gross Domestic Product.

BAGHDAD, IRAQ - APRIL 24: Fire burns from an oil distillation tower at the Al-Doura Oil Refinery April 24, 2003 in Baghdad, Iraq. The refinery, built in 1952, is the largest in Baghdad and would typically produce 110,000 barrels of oil a day. However, due to the problems associated with …

Oil Prices Under Pressure as Iraq Resists Joining Output Cut

Oil prices came under pressure on Monday as Iraq said it wanted to be exempt from an OPEC deal to cut production, though losses were capped by Iran saying it would encourage other members to join an output freeze.

The CMA CGM Benjamin Franklin container ship stands at its berth before its inauguartion ceremony at Long Beach, California on February 19, 2016. The CMA CGM Benjamin Franklin is the largest vessel ever to call at a port in the United States and is 1,300-foot long with a capacity of …

U.S. Trade Deficit Jumps 8.7 Percent to 10-Month High

The trade deficit increased because imports rose by $227.7 billion, while exports were up only $183.2 billion, with particularly sluggish oil and new-car exports. The trade gap with China hit its highest mark since last November, thanks to heavy imports of “Chinese-made computers, cell phones, and clothing,” per ABC News.

Cotton-based panty liners of the Organyc brand were found to contain tiny amounts of pesticide

The Farmer’s Plight Part 2: Rural America’s Nightmare–Again

The growing and unprecedented crisis with U.S. cotton is indicative of the plight of all sectors in American production agriculture. More and more, on the turn rows of western and southern Texas, they grasp for a historical crisis by which to gauge cotton’s present situation in which the industry’s fundamentals are stressed. “The early ‘80s” is often muttered, but quickly dismissed, mainly because interest rates aren’t soaring as they were 35 years ago.

Saudi Minister of Health Khalid al-Falih, speaks during a press conference at the Maternity & Children's Hospital in Saudi Arabia's holy Muslim city of Mecca on September 17, 2015. AFP PHOTO / MOHAMMED AL-SHAIKH / AFP / MOHAMMED AL-SHAIKH (Photo credit should read MOHAMMED AL-SHAIKH/AFP/Getty Images)

Saudi Oil Chief: The Bust is Over

During a visit to Aramco facilities in Houston, the new Saudi Arabian oil minister confirmed a growing sentiment among market analysts in recent months: the global oil glut that crippled American energy producers is now over.

Oil derricks are silhouetted against the rising sun at an oilfield in the Baku October 16, 2005. Saudi Oil Minister Ali al-Naimi said on Sunday that the rise in oil prices to a record high had been determined by market forces. REUTERS/DAVID MDZINARISHVILI

Saudi Arabia Wages Oil Price War on Iran

Talk of a production cap to stabilize oil prices seems like a distant memory now, as Iran continues ramping up post-sanctions production and Saudi Arabia cuts oil prices to Europe to compete.

OPEC Oil Chief

OPEC Chief: Oil is Now Too Cheap

Leading up to a crucial meeting for the global cartel next week, OPEC leadership has made plain that the price of oil is far too low to encourage investment and supply the global market in the longer term. The comments follow a variety of indicators beginning to signal a larger recovery.

Oil derricks are silhouetted against the rising sun at an oilfield in the Baku October 16, 2005. Saudi Oil Minister Ali al-Naimi said on Sunday that the rise in oil prices to a record high had been determined by market forces. REUTERS/DAVID MDZINARISHVILI

Saudi Arabia: Increase in Supply of Saudi Oil Will Raise Prices

It seems like only yesterday that the great hope of the oil market was that oil-producing nations, both inside and outside OPEC, would come together and cap production to bring prices back up. Now the chief executive of the Saudi national oil company says it will increase production, but he expects prices to start rising anyway.

Oil derricks are silhouetted against the rising sun at an oilfield in the Baku October 16, 2005. Saudi Oil Minister Ali al-Naimi said on Sunday that the rise in oil prices to a record high had been determined by market forces. REUTERS/DAVID MDZINARISHVILI

Saudi Arabia Approves Plan for ‘Post-Oil’ Economy

On Monday, Saudi Arabia’s King Salman bin Abdulaziz addressed his nation by television, announcing cabinet approval for the “Saudi Vision 2030” plan — in essence, the Kingdom’s plan to decouple its economy from oil.

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Saudi Arabia ‘Reformats’ Its Economy as Oil Prices Drop

The New York Times offered a new set of clues recently as to how Saudi Arabia is handling the ongoing collapse of global oil prices by looking at the Saudis’ effort to “reformat” their economy, becoming less dependent on oil.

AP Photo

24 hours: Two Texas Oil Drillers File for Bankruptcy

Two Houston-based drilling companies filed for Chapter 11 bankruptcy protection within a 24-hour period ending Friday as the oil slump continues to take its toll on the sector at large. The firms plan to shed a combined $3.2 billion in debts to their creditors.

iran energy

Iran Slowly Increasing Its Oil Market Share

USA Today reports: Iran is expected to raise the April Official Selling Price (OSP) of its flagship light crude oil to Asia to 25 cents above the Saudi’s similarly graded Arab light. This is the highest premium since 2011 and is

A Saudi man walks past a pump at a petrol station on December 28, 2015 in the Red Sea city of Jeddah. Saudi Arabia said it plans to review the prices of heavily-subsidised power and fuel as part of new measures introduced in the face of low oil prices.

Saudi Arabia to Nationalize Economy at Expense of Foreign Workers

JAFFA, Israel – Saudi Arabia is planning to “nationalize” its economy due to the country’s mounting deficit, which is the result of plummeting oil prices, structural problems in the economy, and the Saudis’ ongoing involvement in the conflict in Yemen. Last year, Riyadh registered a $100

AP Photo/Gene J. Puskar

Devon Energy Laying Off 700 Workers in Oklahoma City

The crashing price of oil may be good for Americans on the road, but in some cases, it is bad for their jobs. As the price of oil collapses, jobs in Oklahoma City are now being lost, as Devon Energy Corp. has announced it is shedding up to 700 jobs.

AP Photo/Richard Drew

Oil Prices Plunge

Reuters reports: “Wall Street tumbled on Wednesday, with the S&P 500 hitting its lowest since February 2014 and deepening this year’s selloff as oil prices plummeted unabated.”

John Moore/AP

Former U.S. Ambassador Discusses Saudi Position on Oil Price Collapse

Ambassador Charles (Chas) W. Freeman, the former career US Ambassador to Saudi Arabia, (US Foreign Service Retired), has outlined the Saudi Arabia position on the Oil Price Collapse. Ambassador Freeman served as President George H.W. Bush’s representative to Saudi Arabia from 1989 to 1992.