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Oil Refiners Set To Curb Spot Buying To Make Room For Iranian Oil


Oil Refiners Set To Curb Spot Buying To Make Room For Iranian Oil
Oil Refiners Set To Curb Spot Buying To Make Room For Iranian Oil
State-run Bharat Petroleum Corp, which plans to tap the spot market for 45 per cent of its overall imports, will buy Iranian oil if sanctions are lifted.
India used to be Iran s second-biggest oil client after China
Oil refiners, anticipating a lifting of U.S. sanctions, plan to make space for the resumption of Iranian imports by reducing spot crude oil purchases in the second half of the year, company officials told Reuters. The world s third-largest oil consumer and importer halted imports from Tehran in 2019 after former U.S. President Donald Trump withdrew from a 2015 accord and re-imposed sanctions on the OPEC producer over its disputed nuclear programme. U.S. President Joe Biden s administration and Iran have been involved in indirect talks to revive the pact for Tehran to curb its nuclear activities in exchange for a lifting ....

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OPEC+ to debate oil cuts rollover, increase of production


OPEC+ to debate oil cuts rollover, increase of production
The Organization of the Petroleum Exporting Countries (OPEC) and allied producers, a grouping known as OPEC+, are cutting output by a little more than 7 million barrels per day (bpd) to support prices and reduce oversupply
Reuters | April 1, 2021 | Updated 22:04 IST
Two OPEC+ sources said the increase would not exceed 0.5 million bpd
OPEC+ will debate two key options for oil policies from May and beyond, including a rollover of existing cuts and a gradual increase of production, three OPEC+ sources said.
The Organization of the Petroleum Exporting Countries (OPEC) and allied producers, a grouping known as OPEC+, are cutting output by a little more than 7 million barrels per day (bpd) to support prices and reduce oversupply. Saudi Arabia has added an additional 1 million bpd to those cuts. ....

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