Category : Energy
Economists predict a 75% collapse in oil shale production by 2025 in the United States.
After the first sanctions imposed on Iran last July, India continues to buy Iranian crude oil despite increasing pressure from the United States.
Indian government refuses to submit to the United States and continues its purchases Iranian oil ; Bitcoin continues its fall below $ 6000 ; Russia Turkey and China continue to accumulate physical gold.
Total becomes the world's second largest producer of natural gas; Beijing devalues the yuan to protect its exports from U.S. sanctions; the trade war could cause the dollar’s fall.
Iran's crude oil exports reached 2.7 million barrels a day while the United States withdrew from the Iranian nuclear agreement and re-imposed sanctions.
The American government wants to instroduce sanctions against firms involved in the building of the Nord Stream 2 pipeline, which will supply Russian natural gas to the European Union across the Baltic Sea.
The Major oil producers are fleeing Iran because of US sanction fears.
For the moment, the US government has chosen not to hit the Venezuelan oil sector with the most severe sanctions in spit of the re-election of President Nicolas Maduro as an " imposture. "
European countries boosted imports of Russian gas to unprecedented levels in April with overall supplies in 2018 expected to climb above 200 billion cubic meters for the first time ever, ignoring the impact of strained relations.
OIL advanced near US$72 a barrel as an economic truce between the United States and China eased fears of a trade war, and before a meeting on crude prices between the ministers of top producers Russia and Saudi Arabia.