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The Organization of the Petroleum Exporting Countries (OPEC) extends its sincerest and deepest condolences on the passing of HE Ayatollah Dr Ebrahim Raisi, President of the Islamic Republic of Iran, to his family, the leadership and people of the Islamic Republic of Iran, and the entire OPEC Family. OPEC Secretary General, HE Haitham Al Ghais, said: “It is ...
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The US Strategic Petroleum Reserve is back on the radar of commodity traders, as the Department of Energy sends conflicting signals about a major order. The SPR, which is presently at its lowest levels since the early 1980s, has an authorized capacity of up to 714 million barrels of crude, and moves to refill it can have a major impact on oil prices. Why is ...