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An escalation of conflicts in the Middle East in recent weeks has triggered a sharp increase in oil prices, raising uncertainty about where costs will head in the final weeks before Election Day.
Oil prices climbed this week as tensions in the Middle East escalated. Iran launched missiles at Israel and the Israelis threatened retaliation, raising the possibility of a disruption to the flow ...
Iran is the world’s seventh largest oil producer, but a wider conflict in the Middle East could have an impact for some of the world’s largest energy producers in the region.
In 2009 the largest share of oil production was in the Middle East (24 million barrels daily, or 31 per cent of global production). According to Transparency International based on BP data regionally the largest share of proved oil reserves is in the Middle East (754 billion barrels, constituting 51 per cent of global reserves including oil sands and 57 per cent excluding them).
Oil prices rose above $91 a barrel Monday as diplomatic efforts to address the crisis in the Middle East intensified, but slipped back later in the day, falling below $90 on reports that that US ...
Predictions about the Middle East often border on folly, given the region’s volatile and violent history. Yet the oil has flowed through numerous wars and countless skirmishes, and that’s the ...
Some statistics on this page are disputed and controversial—different sources (OPEC, CIA World Factbook, oil companies) give different figures. Some of the differences reflect different types of oil included. Different estimates may or may not include oil shale, mined oil sands or natural gas liquids.
The discovery of oil by the Anglo-Persian Oil Company at Masjid-i-Sulaiman in the mountains of north-western Persia in 1908; but the consensus of geological opinion at the time was that there was no oil on the Arabian peninsula, although there were rumours of an oil seepage at Qatif on the eastern seaboard of Al-Ahsa, the eastern province of ...