#fuel-imports

#fuel-imports

Viper owns mineral and royalty interests, primarily in the Permian Basin. Royalty owners collect a percentage of production revenue from every barrel of oil, cubic foot of natural gas, and barrel of natural gas liquids produced on their acreage without bearing drilling costs or capital expenditures.

The International Energy Agency (IEA) says it is the 'largest supply disruption in history'. With the disruption expected to have a lasting impact on prices, governments around the world have introduced measures to limit the impact on consumers and the economy.

"As we have made clear, we will pursue global maritime enforcement efforts to disrupt illicit networks and interdict sanctioned vessels providing material support to Iran - anywhere they operate. International waters are not a refuge for sanctioned vessels."

"Fortunately, our relations with Russia remain good," Anwar Ibrahim, Malaysia's prime minister, told local publication Sinar Harian. "Therefore, the Petronas team can negotiate with them."

The IEA sees global oil demand falling by 80,000 barrels per day this year, compared with a projected year-on-year rise of 640,000 bpd in its previous monthly report.

In the past two months, conflict in Iran has created an energy crisis - the latest in a series. Oil prices spiked within days of the start of US, Israeli and Iranian bombing in the Gulf region on 28 February.

The analysis of energy imports reveals significant variations in the percentage sourced from the Middle East across different regions, indicating a complex global energy landscape.

The International Monetary Fund (IMF) has lowered its global economic growth forecast as tensions between the United States and Iran have driven up energy and food costs globally. The IMF expected the global economy to grow by 3.1 percent this year, a slowdown from its earlier forecast of 3.3 percent.