Iran's threat to block the world's most vital oil transit point has raised fears of major global economic consequences.

Geopolitical tension in the Middle East could boost Brent oil and United States Brent Oil Fund, LP ETF. Click for my updated ...

The focus of this post is an overview of World oil production along with a more detailed review of the top 11 Non-OPEC ...

India is the third-largest importer of crude oil, relying on imports to meet at least 80 percent of its oil and gas needs.

With about 157 billion barrels of proven crude oil, Iran holds about a quarter (24 percent) of the Middle East’s and 12 percent of the world’s proven oil reserves.

Ras Tanura, the largest port in the world’s top crude oil exporter, Saudi Arabia, has the capacity to ship 6.5 million bpd of crude, which is equivalent to 7% of the volume of global demand for oil.