Oil Rises Modestly Amid Beijing Trade Talks

Standard crude oil prices in the Green Zone were on Tuesday as markets followed up from the preparatory discussions for a high-level talks between China and the United States.

Later this week, Treasury Secretary Steve Menuchin and Trade Representative Robert Lefteizer are scheduled to address the issue. Their host, Vice Premier Liu, is the trade disputes, protection of intellectual property and structural reforms in the largest country in terms of population.

This week, a series of reports that may provide new directions for the oil market is due to be released as the Energy Information Administration and OPEC will release their future vision for the market today, while both the International Energy Agency and BP will report demand forecasts on Wednesday and Thursday. Ranking.

In the meantime, market participants were analyzing the effects of US sanctions against Iran and Venezuela and the political turmoil in the Latin American country. Libya, a major producer, has also suffered from chronic instability since 2011. Partial pressures on oil have been partially shut down in the Keystone pipeline system in the United States, before concrete data on the implementation of production cuts by the Organization of Petroleum Exporting Countries ). And their counterparts led by Russia.

Venezuela's oil minister: The world is not just the dollar and the United States

Venezuela's oil minister and head of state-owned oil company PdVSA Manuel Quevedo said on Tuesday that his Latin American country is seeking cooperation from "friendly countries" to combat US sanctions.

He said the world was not only "the dollar and the United States," adding that the exchange of crude oil and commodities is the way to deal with trade in the oil-rich country, referring to his claims yesterday that Venezuela has all the necessary mechanisms to continue its oil operations. And meet India's oil needs.

Earlier, the media reported that at least two American executives at Citgo Petroleum Corp. will be removed from the board by the parent company PdVSA.

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