OPEC

Iranian Exports Collapse Under U.S. Sanctions

Economic data released by Iran this week indicated oil exports are sharply down and the export of products other than oil has been cut in half by U.S. sanctions.

A picture taken on March 12, 2017, shows an Iranian tanker and a South Korean (R) tanker docking at the platform of the oil facility in the Khark Island, on the shore of the Gulf. / AFP PHOTO / ATTA KENARE (Photo credit should read ATTA KENARE/AFP/Getty Images)

Iran Threatens to Block Key Gulf Passage over Trump Sanctions

Iran has threatened to block the Strait of Hormuz – a key Gulf passage for shipments of commodities – over Washington threatening to sanction any country that fails to stop importing oil from the Islamic Republic by November 4.

Iranian clerics standing in front of the "Jamran", Iran's first domestically built warship, during naval maneuvers in the Gulf on February 21, 2009. Iran's navy on February 19 launched in the Gulf its first domestically made destroyer in a ceremony attend by the supreme leader and the commander-in-chief Ayatollah Ali …

Marcus: Trump’s Courage Could Free U.S. from OPEC

Bernie Marcus writes that President Trump’s National Security Strategy tells us that we must “embrace energy dominance” by “unleashing our abundant energy resources,” including natural gas. If we follow that course, we could break free of the stranglehold of OPEC.

OPEC

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.

The Associated Press

Saudi King to Meet Putin on Historic Russia Visit

Saudi Arabia’s King Salman, on the first official trip to Russia by a ruler of the oil-rich Sunni powerhouse, was set to meet President Vladimir Putin to discuss energy contracts despite discord over the Syrian conflict.

The Associated Press

Blackwell: Energy Security Means Putting America First

Every year, the United States spends $67.5 billion to ensure the worldwide free flow of oil. Often produced in unstable parts of the world and shipped through insecure chokepoints, the U.S. military works to make sure crude oil from other countries makes it safely onto the global market. Yet while this global oil market benefits some nations, its volatility threatens the American economy and undermines U.S. national security.

OPEC countries are complying with a landmark deal to reduce a worldwide glut in oil, the International Energy Agency says

OPEC Agrees to Production Decrease, Prices Increase

At the end of September, the Organization of Petroleum Exporting Countries (OPEC) surprised the markets by agreeing to a production cut. As soon as the 14-nation deal was announced, oil prices jumped more than five percent to some of the highest levels since the crash two years ago.

US oil rose above $50 a barrel in New York last week for the first time since June