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OPEC+ production increase plan may be delayed by three months, and crude oil prices have seen the largest two-week gain in two weeks.
The sanctions on Iran's crude oil product and the expected OPEC+ production agreement are jointly driving up oil prices.
Two news stories boost international oil prices, petrochina's Hong Kong stocks rose nearly 4%.
① Why did the usa announce sanctions on Iranian oil? ② What effects will OPEC+'s delay in increasing production have on the crude oil product market?
Crude oil: Oil prices rise as the usa intensifies sanctions on Iran and OPEC+ makes progress towards delaying production resumption.
Crude oil prices saw the largest increase in over two weeks on Tuesday, as the usa announced additional sanctions on Iranian crude oil, and OPEC+ made progress toward further delaying production increases.
Update: WTI Crude Closes Up 2.7% as OPEC+ Seen Delaying Return of Production Cuts
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Qatar energy and Shell are collaborating to deliver 3 million tons of LNG to china annually.
Qatar Energy signed a long-term LNG cooperation agreement with Shell, supplying 3 million tons of LNG to Shell annually and shipping it directly to China, effective from January 2025; China is currently the largest LNG importing country, while Qatar is the third largest exporting country, having already exported 73 million tons of LNG this year.
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OPEC's Power Is Waning. That's Bad for Oil Bulls. -- Barrons.com
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