Oil Industry

China's crude oil imports are expected to rebound in July, averaging 7.8 million barrels per day, according to preliminary figures from data analytics firm Kpler, marking a significant increase from June's decade-low levels.

Oil prices retreated from $100 per barrel on Monday as signs of easing geopolitical tensions in the Middle East emerged, with both Brent and WTI crude falling more than six percent.

The head of the International Energy Agency (IEA) has warned that commercial oil inventories are depleting rapidly and that the world only has a few weeks' worth of oil reserves left due to the situation in the Strait of Hormuz caused by the US-Israeli aggression against Iran.

A Russian company involved in an oilfield development project in western Iran says that it has increased output from the field by 14,000 barrels per day (bpd).

By Zahra Vejdani , Tech Reporter | Borna News Agency: Iranian researchers have developed an intelligent nano-composite hydrogel capable of simultaneously controlling sand production, reducing water cut, and increasing oil recovery. This technology can generate economic savings, reduce environmental impacts in the oil industry, and address one of its most critical challenges.