After the US decided to scupper the Iran nuclear accord and impose new sanctions on Teheran, oil prices have surged. DW discussed market developments with Claudia Kemfert from the DIW think tank.
Kuwait is to increase its output as part of a broader agreement by OPEC countries and Russia to boost oil production. The move comes amid international price sensitivity, especially ahead of US elections.
Venezuela's oil sector will get a much-needed injection of cash from China, tightening Beijing's grip on the country's state-owned oil company PDVSA which is struggling to maintain deliveries to the Asian powerhouse.
Newly elected president Andres Manuel Lopez Obrador has said that his team will review state-owned oil company PEMEX. Rating agencies have warned that his proposed changes could hurt the industry.
Tehran has vowed to "defeat" attempts to curb its oil revenues by allowing private companies to export it. Iran also reminded Saudi Arabia that it was bound to an OPEC agreement to only boost exports collectively.
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