Iraq's oil exports from the southern ports fell in June as domestic consumption rose due to demand for summer cooling, an official at the state-run South Oil Company said on Friday.
Loadings from Iraq's southern oil termin
Oil rose after the biggest quarterly gain since 2009 as falling US supply added to speculation the global surplus is easing, said a report.
Futures gained 0.6 per cent in New York, taking its advance for the week to 2 per cent. US
Iran's oil exports in July are set to fall from June levels as the country battles Saudi Arabia and Iraq for market share but are about 70 percent higher than a year ago, according to a source with knowledge of the country's crude lift
Iraq's oil exports are set to decline in June for a second month, according to loading data and an industry source, adding to signs that supply growth from Opec's second-largest producer is slowing this year.
Investment Corporation of Dubai (ICD), which holds stakes in some of the emirate's top companies, posted a 3.7 per cent drop in profit last year as revenue from oil and gas products and services fell.
Profit attributable to eq
Oil prices rose above $48 a barrel on Tuesday as investors took advantage of a two-day slide in crude following Britain's vote to leave the European Union to lock in lower prices.
The vote result sent globa
Oil exports from Iraq's southern ports have averaged 3.162 million barrels per day (bpd) so far this month, down slightly from May due to maintenance work and rising demand for fuel oil used in power generation, a senior oil official said.
Algeria's oil and gas output is moving back to growth after years of stagnation, helped in part by increased production at the North African Opec member's existing fields, state energy company Sonatrach said on Sunday.
Crude oil prices have so far shown only a modest impact from Britain's vote to leave the European Union on Thursday.
Brent crude futures for the nearest contact to delivery were down by just over $2 per barrel or about 4 per c
Oil markets are improving as supply and demand are almost balancing, Saudi Arabia's energy minister said in comments aired on Thursday.
"We see that the market has returned into balance. Supply and dem