The Australian government has effectively cut its losses in the Trans-Pacific Partnership, signalling support for Chinese-led trade deals before a meeting this weekend of the Asia-Pacific Economic Cooperation group in Peru. Source The Guardian
The U.S. Department of Energy (DOE) is offering 11 million barrels of oil for sale from the nation’s Strategic Petroleum Reserve (SPR) ahead of sanctions on Iran that are expected to reduce global supplies of crude. Source: Reuters
Iraq’s state-run Basra Oil Company and Chevron agreed to begin implementing a memorandum of understanding to develop fields in the south of the country. Source: Reuters
Saudi Arabia is seemingly planning to build an oil port in Yemen’s al-Mahra governorate in the country’s southeast, where Saudi and United Arab Emirates’ troops are present. Source: Al Jazeera
